Oil prices topped $100 a barrel during intra-day trading before closing at $99.62 a barrel.

"We know that higher energy prices have a perverse impact on families' budgets, especially small businesses, as well," White House spokeswoman Dana Perino said during a news briefing.

President George W. Bush will push Congress to expand domestic production of oil "in environmentally sensitive ways" in areas such as the Arctic National Wildlife Refuge in Alaska and offshore drilling, Perino said, "so that we can have an increase of supply of oil here while world demand (for oil) continues to increase at a really astronomical pace."

Senate Majority Leader Harry Reid, D-Nev., called the $100 price "disappointing" and blamed Bush's policies for the "economically disastrous milestone."

Reid called on the president and members of Congress to work together to develop a "forward-looking, national energy strategy that makes us stronger and more secure."