Biden urges energy companies to lower costs for consumers

U.S. President Joe Biden delivers remarks prior to signing "the Sergeant First Class Heath Robinson Honoring our Promises to Address Comprehensive Toxics (PACT) Act of 2022," in the East Room of the White House, in Washington, U.S., August 10, 2022. REUTERS/Kevin Lamarque

WASHINGTON, Sept 22 (Reuters) - U.S. President Joe Biden on Thursday pressed the U.S. energy industry to lower costs for consumers who had been stung by high gasoline prices, citing record company profits.

"Gas prices fell by $1.30 this summer, that's good news for families. But energy companies are making record profits and retailer margins are 30% above normal," Biden wrote on Twitter. "That’s money that should be in folks' pockets. Industry must pass savings on to consumers by lowering prices. Now."

Reporting by Susan Heavey; Editing by Tim Ahmann

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