President Joe Biden offered a stern warning to oil companies on Wednesday as Hurricane Ian barreled toward Florida.
"Do not—let me repeat, do not—do not use this as an excuse to raise gasoline prices and gouge the American people," Biden said.
The president added that officials will look into reports of price gauging if companies use the hurricane as an excuse to raise prices.
“This small temporary storm impact on oil production provides no excuse—no excuse—for price increases at the pump. None," Biden said.
The national average for a gallon of regular unleaded gasoline is $3.76. That's up 2 cents from Tuesday, according to AAA.
Biden said less than 2% of daily U.S. production has been impacted by the storm so far.