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The financial press had plenty to report on in the first half of 2022, with inflation rising to its highest levels in over 40 years, stocks falling into a bear market and cryptocurrency crashing.
Although gas prices, especially where they sit now, are often assumed to be a force of political influence, they are actually governed by economic drivers and basic laws of supply and demand.So no ...
Even adjusting for inflation, gas prices have been considerably higher under Biden. The average Trump price, in 2024 dollars, was $3.18. The average Biden price was $3.86.
Utility ratemaking is the formal regulatory process in the United States by which public utilities set the prices (more commonly known as "rates") they will charge consumers. [1] Ratemaking, typically carried out through "rate cases" before a public utilities commission , serves as one of the primary instruments of government regulation of ...
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.
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.
Gas prices were low for years because oil drillers produced too much oil—and lost money. Now they're trying to keep profits intact. The real reason gas prices are so high [Video]
GasBuddy is a technology company headquartered in Dallas that offers mobile applications and websites for tracking crowd-sourced locations and prices of gas stations and convenience stores in the United States and Canada. Their platforms offer information sourced from users, gas station operators, and partner companies.