As worries mount that Americans’ wallets will be pinched by a price jump similar to the one seen in summer, Treasury Secretary Janet Yellen stated on Sunday that there is a risk that US gas prices could increase once more later this year.
When asked if Americans should be concerned about gas prices rising again later this year on CNN’s State of the Union, Yellen responded,
“Well, its a risk. And its a risk that were working on the price cap to try to address,”
Adding that “This winter, the European Union will cease, for the most part, buying Russian oil, and, in addition, they will ban the provision of services that enable Russia to ship oil by tanker and it is possible that that could cause a spike in oil prices”
Yellen also stressed that shes optimistic about the economy and emphasized that the US is not in a recession.
