Janet Yellen acknowledged the "risk" that this winter, US gas prices could rise once again.
Behind of steady declines, US gas prices could spike again this winter, according to Treasury Secretary Janet Yellen.
As European Union countries slowly reduce their reliance on Russian oil substances and think imposing a price ceiling in reaction to the savage invasion of Ukraine,
Yellen pointed to potentially tense situations in Europe.
Yellen said during an appearance on CNN's "State of the Union" on Sunday that "it's a risk and it's a risk that we're working on the price cap to try to manage."
The majority of the European Union's oil purchases from Russia will stop this winter, and they'll also stop providing services that allow Russia to ship oil by tanker.
That might lead to an increase in oil prices.Yellen continued,
,"Our price cap plan is intended to both diminish Russian revenues that they use to finance their economy and wage this unlawful war while also maintaining Russian oil supply to hold down global oil prices.