One month ago, gas prices—up 50% during the last year—were looking like the bane of Joe Biden’s presidency. Then three things happened:
Combined, these developments have shaved oil prices by more than 20% since late October. Gas prices haven’t yet fallen by the same amount, but they most likely will. Gas prices lag oil prices whether going up or down, but only by a few weeks, as the following chart shows. So gas prices should be dropping by the end of the year. There’s already been a…
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