Senior Biden official who expects gas to drop to $4 a gallon says oil prices has 'come down at the fastest rate' in decades

A senior adviser in President Joe Biden's administration believes gas prices will continue to decrease.

It is now $4.55. I think it will go down to $4. Amos Hochstein, the White House's senior adviser for energy security, told Margaret Brennan on Sunday that they already have many gas stations that are below $4,

"This is the fastest decline rate that we've seen against a major increase in oil prices during a war in Europe, where one of the parties in the war is the third largest producer in the world," he said. These are not ordinary circumstances. We took very tough measures to address them immediately, both for the American consumer and the global economy.

Hochstein said he was confident that negotiations with the Organization of the Petroleum Exporting Countries would increase oil supply.

I am not going to say how much spare capacity there is, but there is room for more production. Over the last several months and weeks, we've had discussions with the Organization of the Petroleum Exporting Countries. Hochstein believes there is still more room to improve.

Biden met with the crown prince of Saudi Arabia.

The US shouldn't be maintaining a warm relationship with a dictatorship according to Sen.

Saudi Arabia's crown prince was implicated in the killing of a journalist.

Hochestein said that Biden was able to get a commitment that Saudi Arabia would continue a ceasefire in Yemen as well as other commitments from Gulf countries.