U.S. President George W. Bush came out on Tuesday and stated that he had no magic trick that could fix the rising gas prices in the U.S.
Bush did state, however, that he would consider a plan to suspend federal gasoline t axes this summer.
This comes as the average gallon of gas for Americans is now up around $3.60, with it higher in many states.
This is also costing grocery bills to go up, along with other factors.
Bush stated during a news conference “I firmly beiev that, you know, if there was a magic wand to wave, I’d be waving it, of course. I’ve repeatedly submitted proposals to help address these problems, yet time after time Congress chose to block them.”
Oil prices are up 25% since the start of 2008, reaching a near record $119.93 on Monday per barrel.
Gas prices in many U.S. cities are now above $4 per gallon.