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Why is the U.S. gas prices so high? Saudi Arabian minister of state Ad

Published: 08-10-2022 00:24

As the world's largest oil producer, Saudi Arabia has a vested interest in high oil prices. So it was no surprise when Saudi Arabian minister of state Adel Al-Jubeir said on Friday that lack of American refinery production is the cause of high U.S. gas prices.

"The reason why gasoline prices in the United States are going up is not because of a lack of supply, but because there is a lack of refining capacity," Al-Jubeir said on Fox News' "Special Report."

He added that the Saudis have offered to help build more refineries in the United States, but "the answer has always been no."

Al-Jubeir's comments come as gas prices in the United States are on the rise, averaging .81 per gallon nationwide as of Thursday, according to AAA. That's up from an average of .65 just one week ago and .49 one month ago.

The increase in gas prices comes as summer driving season kicks into full gear and as tensions rise in the Middle East, which could lead to disruptions in oil supplies.