Any work to ease current shortages and price hikes while the Strait of Hormuz remains closed will take years and billions of dollars.
Articles on Gas prices
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Seven months into the US conflict with Iran, with no clear end in sight, the global oil market has now largely exhausted the safety measures that exist to keep a lid on petroleum prices.
There’s not much diesel fuel lying around, and lots of people want to buy what is available, as well as what little is produced each day. It’s all a matter of supply and demand.
Lower inflation does not mean prices will return to where they were before. Inflation measures the average change in prices over time, not which specific prices are rising or falling.
The economic outlook for World Cup host cities isn’t looking good – but there’s still time to change that.
Donald Trump isn’t the first American president to fall prey to the allure of U.S. military might and to ignore its limitations.
Cutting the state gas tax, as some have suggested, could lead to budget shortfalls down the line.
Suspending the federal gas tax, which would require Congress to agree, would drop gas prices only about 4% – less in high-cost states like California.
As US gas prices climb, politicians are looking at ways to lower them. An economist breaks down what does − and doesn’t − move the number on the sign at the gas station.
Donald Trump’s false claims about the Iran War, Epstein files, tariffs and inflation have left some supporters who have traditionally believed all he says feeling duped and abandoned. Why now?
US consumers, already feeling pain at the gas pump, can expect higher prices and prolonged shortages for goods of all sorts, including food, as additional consequences of slowed oil production.
Rising tensions between the United States, Israel and Iran have sent oil prices surging. While households and governments face higher costs, parts of the fossil fuel industry stand to gain billions.
Oil shocks create winners and losers, but the Canadian dollar no longer softens the blow the way it once did.
Oil prices affect the US economy differently than in past decades. Nowadays, the US is less reliant on oil imports and uses less oil to produce more economic output.
The Strait of Hormuz is one of the world’s most important economic chokepoints, and it has just been closed off by the conflict in Iran.
Even though research supports the change, most cities have been slow to ban left turns at even the most congested intersections.
‘Zonal pricing’ would not address price distortions caused by gas.
The Garden State is the only one in the country that forbids self-service gas stations − and that’s not likely to change anytime soon.
Thinking about getting your home off gas, but don’t know where to begin? Here’s a few handy tips to get you on your way.
Household gas and electricity bills aren’t the only way that expensive energy hits your budget.
Top contributors
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Professorial Fellow, University of Canberra
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Energy Advisor, formerly, The University of Melbourne
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Senior Industry Fellow, Environment and Planning, RMIT University
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Professor of Global Energy, Warwick Business School, University of Warwick
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Professor of Law, Deakin University
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Senior Fellow in Energy and Climate Change, Grattan Institute
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Professor and Director of the Centre for Energy Policy, University of Strathclyde
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Professor of Sustainable Energy Business and Policy, University of Strathclyde
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Assistant Professor of Economics, Georgia Institute of Technology
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Energy Fellow, Grattan Institute
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Lecturer in International Studies, University of Washington
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Assistant Professor of Economics, Clark University
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Emeritus Professor of Sociology, Australian National University
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Lecturer in Energy Systems, University of Oxford
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Research Associate Professor, Biocomplexity Institute, University of Virginia; Cornell University