Progressive Democrats are accusing oil companies of "profiteering" and are demanding they face "consequences" for high prices at the pump as the price of crude oil fell below $100 on Monday and continued to decline Tuesday. But the industry has fired back, saying these Democrats are "grandstanding" instead of proposing solutions to the gas crisis.

Rep. Alexandria Ocasio-Cortez (D-N.Y.) on Monday responded to MSNBC host Stephanie Ruhle, who asked "what's going on" with gas prices averaging $4.32 per gallon on Monday while the price of crude oil dropped 8% and fell below $100 per barrel. "Profiteering. And there should be consequences for it," the congresswoman replied.

Fellow "squad" member Rep. Ilhan Omar (D-Minn.) echoed her comments, writing, "Big oil CEOs need to be held accountable for profiteering, this can’t stand."

And another congressman, Rep. Mondaire Jones (D-N.Y.), accused oil companies of "price-gouging" and said, "Congress must pass legislation to stop it."