Daily Commentary: Highest US March Gas Prices on Record

I wonder how the oil issue is going to play out in this particular election since everyone seems to be talking about how high the price of gasoline/petrol is. In the US, we are seeing record numbers:

The average price of a gallon of regular is now $3.87, the highest recorded price in March. The average price is up nearly 4 cents from a week ago, and over 30 cents from a year ago, according to the Department of Energy, as more drivers face gas prices of $4 a gallon or more across the country.

Last week, the average gas price was $3.83 a gallon, the previous record according to data going back to 1990.

And despite a huge fall in the price of natural gas and heating oil, inflation is being buoyed by the rise in oil prices. So, the question is two-fold for me. A. Why are price...


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