US President Joe Biden expressed on Monday his belief that Ukraine would very likely join the European Union.  

"I think that’s very likely to happen," he told reporters when asked whether he is sure that Ukraine will become an EU member.

Read more: EU divided over expediting Ukrainian membership

Regarding a possible visit to Ukraine during his coming trip to Europe, Biden told reporters that "Not on this trip, not likely."

WH team to meet with major oil company chiefs 

On another level, a White House team will be meeting with major oil companies' CEOs this week to talk about their profits in light of the significant increases in consumer prices at the gas pump, US President Joe Biden said on Monday, while the president will not be taking part in the meeting.

"My team is going to be sitting down with the CEOs of major oil companies this week, so I can get an explanation of how they justify making $35 billion in the first quarter," he said.

Average US gas price hits $5 for first time

According to AAA's reading earlier this month, a gallon of ordinary petrol now costs $5 on average throughout the country for the first time.

Gas prices have been gradually climbing over the previous eight weeks, and this current milestone represents the 15th consecutive day that the AAA gauge has reached a new high, and the 32nd time in the last 33 days.

When the latest round of price hikes began on April 15, the national average stood at $4.07. The current OPIS pricing reading reflects a 23% rise in less than two months.

Biden blaming Putin

US President Joe Biden chastised Russian President Vladimir Putin for the country's record gas prices and 40-year-high inflation. In the face of dismal polling results, Biden highlighted that his administration is working hard to rein in soaring costs.

Biden spoke at the Port of Los Angeles earlier this month, applauding his administration's efforts to eliminate supply-chain backlogs and urged Congress to crack down on global shipping companies, accusing them of unfairly boosting their rates after the Covid-19 outbreak.

His statement came only hours after the Bureau of Labor Statistics released a dismal report showing that consumer prices jumped 8.6 percent year on year in May, the fastest rate of inflation since 1981. Food and gasoline prices have risen significantly more than 8.6 percent, with petrol prices increasing by over 50 percent since last year and reaching record highs in June.

Biden attempted to blame Putin for these costs in particular.

“Today’s inflation report confirms what Americans already know. Putin’s price hike is hitting America hard,” he declared. Insisting that the US job market is “the strongest it’s been since World War II,” Biden repeated, “we’ve never seen anything like Putin’s tax on food and gas."