Why Gasoline Prices Are Rising
- Mar 10, 2021 3:30 pm GMTMar 12, 2021 10:00 pm GMT
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This past week the national average price for regular gasoline rose to $2.71 per gallon. That marks an increase of $0.46/gallon since the beginning of the year.
On a daily basis I see accusations on social media that this price rise is a consequence of Joe Biden winning the presidential election. I am going to explain why this is ludicrous, but I would pose the following to those who believe this to be the case.
(I feel the need to insert a caveat here, because many people don’t seem to make it past this point before stamping their feet and sending me hate mail. I am not saying his policies will never impact gasoline prices. I am saying that there hasn’t been time for them to yet, and we have good explanations for why prices have risen).