"The price of crude oil and therefore the price of gasoline is very high," having an impact on individual consumers and business, said presidential spokeswoman Dana Perino said. "We are very concerned about it."

However, it would not be correct to think Bush could do something that "can have an immediate impact," she said.

Crude oil closed at $108.56 per barrel Tuesday on the New York Mercantile Exchange. The AAA Fuel Gauge Report said the national average price of unleaded regular in the United States was $3.227 per gallon.