The Real Reason Behind Surging Gas Prices

The Real Reason Behind Surging Gas Prices

High gas prices are posted at Low-P, an independent gas station in Calabasas, Calif., Friday, Oct. ... [+] 5, 2012. Californians woke up to a shock Friday as overnight gasoline prices jumped by as much as 20 cents a gallon in some areas, ending a week of soaring costs that saw some stations close and others charge record prices. (AP Photo/Damian Dovarganes)

Gasoline prices have risen significantly in recent months. What’s behind the price spike? Is it the cancelation of the Keystone XL pipeline? Is it the supply disruptions from COVID-19? Is it Russia invading Ukraine? There are many opinions on the issue. Let’s look at the facts.