Here's who to blame for rising gasoline prices

May 29, 2018

Psychology suggests you probably want to blame someone for how much it’s costing you to drive this summer.

Driving the news: At an average of almost $3 a gallon, pump prices are 60 cents more than last Memorial Day and the highest in four years. Economists agree that no person or action can single-handedly affect pump prices over time, which are largely driven by a global oil market. That doesn’t mean we can’t indulge in the human condition of blame.

President Trump
Americans often blame the sitting president for high pump prices, and this time there is some evidence to back that up.  Trump’s announcement earlier this month he would withdraw America from the Iran nuclear deal...

OPEC and Russia
But Trump is blaming OPEC, and there’s reason for that too.  alf the price of a gallon of American gasoline is driven by global oil prices, which are influenced heavily by....

Conservatives and industry often blame the Environmental Protection Agency for higher costs, and in this case they're right--though this policy has been in place since the early 1990's.
The agency requires stricter emissions standards...

Where you live and what you drive
It costs way more to fill up in California ($3.73 a gallon) than it does in Oklahoma ($2.71). This is due to several factors, including higher state taxes and transportation costs of moving fuel...

Read entire article at Axios

<- Go Back

Give Us Your Thoughts