WASHINGTON D.C. (WDTN) – President Joe Biden spoke about his plans to fight inflation and lower costs for Americans.

At 11:30 a.m. Tuesday, Biden delivered his remarks on the subject of the U.S. economy. The announcement comes just after gas prices hit record heights, affecting the prices of many products nationwide.

Last week, the nation’s average gas price saw an increase for the first time in a month, according to GasBuddy data compiled from more than 11 million individual price reports covering over 150,000 gas stations across the country.