- The current price of gasoline marks the 3rd time in 4 years that prices have gone above $3.75 per gallon.
- Gasoline prices are very closely correlated with the price of crude oil.
- Oil prices, in turn, are tied to events largely outside of America’s control.
- Oil prices depend on the interplay of supply, demand, and the perception of future changes in supply or demand.
- The only way to reduce our vulnerability to spikes in oil prices is to use less of it
You can read the report here, or below