Why lowering gas prices isn't that simple
Posted on AllSides June 16th, 2022
From The Left
Jim Watson/AFP via Getty Images
ANALYSIS
The pain at the pump is getting worse and has motorists asking, is there any relief in sight?
The average nationwide price of a gallon of gas surpassed an all-time high of $5 last week, according to GasBuddy. In California, the state with the highest average gas price, drivers are paying an eye-popping $6.43 per gallon, AAA data showed.
The price surge owes to the fundamental economic principle of supply and demand, experts told ABC News. Summer travel has sent Americans to the pump at a time when the global market is...
