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“The price of oil depends on global supply and demand,” said Sung Won Sohn, president of Los Angeles-based SS Economics, a consulting firm. There are other variables that affect gasoline prices.
The average price of gas as of Nov. 11 is currently $3.08, according to AAA, down from $3.38 in 2023. De Haan’s belief is that, spikes aside, the average price of gas would decrease to ...
Trump said that on his first day in office, he would place 25 percent tariffs on all Canadian and Mexican goods. The two countries are the leading sources of U.S. oil imports.
Proponents argued that this could reduce the gas price at the pump by about 18.4 cents a gallon for regular unleaded gasoline and 24.4 cents a gallon for diesel. If it were done, it was estimated the gas tax holiday would save consumers roughly $30 over the three-month period it would be instated. [1]
The largest component of the average price of $2.80/gallon of regular grade gasoline in the United States from 2012 through 2021, representing 54.8% of the price of gas, was the price of crude oil. The second largest component during the same period was taxes—federal and state taxes representing 17% of the price of gas.
Voters correctly remember that gas prices were cheaper when Trump was president. ... gas prices averaged $2.42. But they shot up along with oil prices, peaking at $5 per gallon in June 2022 ...
In his 2011 State of the Union Address, President Obama called for a goal, "By 2035, 80 percent of America's electricity will come from clean energy sources." [14] In January 2017, President Obama published an article arguing that private-sector incentives will help drive decoupling of emissions and economic growth.
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