 "Joe Biden")
U.S. President Joe Biden on Friday accused the U.S. oil industry, and Exxon Mobil Corp in particular, of capitalizing on a supply shortage to fatten profits after a report showed inflation surging to a new 40-year record.
U.S. consumer inflation accelerated in May as gasoline prices hit a record high and the cost of food soared, leading to the largest annual increase in four decades.
A gallon of regular gasoline cost an average $4.99 nationwide on Friday, according to motorist group AAA.
Biden, who came into office vowing to reduce U.S. dependence on fossil fuels, said on Friday he was hoping
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