United Refining Company Chairman and CEO John Catsimatidis provides insight into what rising gas prices mean for consumers.\u00a0<\/p>\n
Billionaire John Catsimatidis joined FOX Business’ "Mornings with Maria" and argued rising gas prices will impact many aspects of consumers’ lives. <\/p>\n
AAA SAYS MEMORIAL DAY GAS PRICES EXPECTED TO HIT HIGHEST IN 7 YEARS<\/strong><\/p>\n JOHN CATSIMATIDIS: When the price of gasoline goes up, everything delivered to the American public by truck or by any other way — it's going to go up. Food prices are going to go up, airline prices are going to go up. It's artificial. It's an increase in cost to the American consumer. <\/i><\/p>\n GET FOX BUSINESS ON THE GO BY CLICKING HERE<\/u><\/strong><\/p>\n …<\/i><\/p>\n That means when you raise taxes on companies, when you raise the cost of fuel on companies, of course, they're going to raise the prices to the consumer. So, you know, the politicians go around Washington and say, ‘Oh, we're going to tax the corporations, we're going to tax the oil companies, we're going to do this, we're going to do that’ — well, bottom line, the corporations are not stupid. They're going to raise their prices. And [when] they raise the prices, every poor American, every middle class American is gonna pay a higher price. So that's a hidden tax. <\/i><\/p>\n