The Biden administration is expected to privately announce the proposed price ahead of a meeting of European Union ambassadors scheduled for Nov. 23.
Earlier, the US Treasury proposed to set the maximum price for Russian oil in the region of $60.
Russian President Vladimir Putin has said that Russia will not act to its own detriment if Western countries impose a price ceiling on Russian energy resources.
Deputy Prime Minister Alexander Novak also warned that Russia would not supply oil to countries that impose ceilings on energy prices.