Biden admin cancels massive oil and gas lease sale amid record-high gas prices

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The Biden administration announced Wednesday that it would ax three planned oil and gas lease sales in the Gulf of Mexico and Alaska's Cook Inlet.

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Interior Department cancels oil lease of more than 1 million acres in Alaska as Americans face painfully high prices at the pump

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US Average gas prices in the US have reached new record highs in recent days

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The national average cost of a regular gas of gasoline reached $4.374, a new record on Tuesday, and $4.404, another record, on Wednesday.

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White House blames Russian President Vladimir Putin for record high gas prices in US

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Biden has also moved to release 1 million barrels of oil per day from the Strategic Petroleum Reserve for the next 6 months.

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