Joe Biden
Joe BidenREUTERS/Kevin Lamarque

Reacting to President Joe Biden demanding gas station companies lower gas prices, billionaire Jeff Bezos accused the president of not being truthful with the public and of lacking an “understanding” of how market forces determine energy prices.

"Ouch. Inflation is far too important a problem for the White House to keep making statements like this," Bezos tweeted, responding to a tweet from Biden encouraging gas stations to charge consumers less for gas.

"My message to the companies running gas stations and setting prices at the pump is simple: this is a time of war and global peril. Bring down the price you are charging at the pump to reflect the cost you’re paying for the product," Biden said in a weekend tweet.

"And do it now," Biden added.

Bezos said that Biden’s tweet was evidence the president didn’t understand how energy prices are set.

"It’s either straight ahead misdirection or a deep misunderstanding of basic market dynamics," Bezos said.