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The Price of Gas

By 186 on May 1, 2008

Economics 101: The Price of Gas - Sterling T. Terrell - Mises Institute

Gas prices are up and oil executives are once again testifying before
Congress. Clearly, many politicians, pundits, and consumers lament the
rising cost of gas. Before we join them in their chorus, let us take a
step back and ask this question: Are gas prices really all that high?

——–

The average price of gas in the United States today is approximately $3.25. The question is, why are gas prices not higher than they are?

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