Saturday, May 18, 2024

Learn More about WPBS Passport! Click Here

HomeVideoWATCH: How long will gas prices stay high in the U.S.?

WATCH: How long will gas prices stay high in the U.S.?

U.S. gas prices hit a record high per gallon on March 9, according the American Automotive Association. Gas prices have driven up due to a confluence of factors ranging from less production in America, high global demand as the world rebounds from the COVID-19 pandemic, and the world feels the impacts of the ongoing Russian attacks on Ukraine.

But, in a March 16 conversation with PBS NewsHour’s Nicole Ellis, Tom Kloza of Dow Jones’ Oil Price Information Service said that in his view, “this is temporary,” with conditions. According to Kloza, we could see increased oil production from nations such as the U.S., Canada, Norway and Brazil, as well as a potential increase from OPEC nations such as the United Arab Emirates.

Additionally, a peaceful resolution to the Russian war on Ukraine could potentially help lower prices. “If peace breaks out in Ukraine in April, this is not the new normal,” Kloza said.

Stream your PBS favorites with the PBS app: https://to.pbs.org/2Jb8twG
Find more from PBS NewsHour at https://www.pbs.org/newshour
Subscribe to our YouTube channel: https://bit.ly/2HfsCD6

Follow us:
Facebook: http://www.pbs.org/newshour
Twitter: http://www.twitter.com/newshour
Instagram: http://www.instagram.com/newshour

Subscribe:
PBS NewsHour podcasts: https://www.pbs.org/newshour/podcasts
Newsletters: https://www.pbs.org/newshour/subscribe