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Biden Cancels Large Oil And Gas Lease Sale Despite Higher-Than-Ever Gas Prices

According to AAA data, the U.S. average cost of a gallon of gas hit a whopping $4.40 on Wednesday – now the highest price ever.

This new high broke the previous record of $4.331 per gallon, which was recorded back in March of this year just after Russia invaded Ukraine.

Now, even with Americans facing enormous stress at the pump already, the just halted the possibility of drilling for oil on almost 1 million acres in Alaska’s Cook Inlet.

The Department of the Interior cited a “lack of industry interest in leasing in the area” as its reason for this decision. Announcing its plan to “not move further” with the Cook Inlet lease sale in a statement originally shared with CBS News.

Frank Macchairola, a

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