Gas prices in the United States are at record highs. And even when adjusting for inflation, they are on average at levels rarely seen in the last 50 years. In an article on The New York Times discussing how international oil markets and the war in Ukraine are affecting gasoline prices, CEEPR Director Christopher Knittel provides some insight on why the US is producing less oil.
Read the full article here: https://www.nytimes.com/interactive/2022/06/14/business/gas-prices.html