President Joe Biden recently sent notices to U.S. oil refining companies urging them to increase the supply and keep prices lower.

Biden reported the refining shortage is a global concern and gas prices are at "their highest levels ever recorded," according to a June 15 CNBC report.

“At a time of war – historically high refinery profit margins being passed directly onto American families are not acceptable,” Biden said, according to CNBC. ″[C]ompanies must take immediate actions to increase the supply of gasoline, diesel and other refined product."

Biden placed some of the blame for the "sharp rise in gasoline prices" on Russian President Vladimir Putin, according to a USA Today story published June 15.

"There is no question that Vladimir Putin is principally responsible for the intense financial pain the American people and their families are bearing," Biden said, according to USA Today. "But amid a war that has  raised gasoline prices more than $1.70 per gallon, historically high refinery profit margins are worsening that pain."

A Washington Times article reported Biden said "refiners are trying to shake off the COVID-19 cobwebs" and that production has been "sluggish."

“The difference — of more than 15% at the pump — is the result of the historically high profit margins for refining oil into gasoline, diesel and other refined products. Since the beginning of the year, refiners’ margins for refining gasoline and diesel have tripled and are currently at their highest levels ever recorded,” Biden said, according to Washington Times. “I understand that many factors contributed to the business decisions to reduce refinery capacity, which occurred before I took office. But at a time of war, refinery profit margins well above normal being passed directly onto American families are not acceptable.”