As the war in Iran pushes oil prices higher, some governments are shielding consumers with price controls. But economists warn that caps mask scarcity signals and can trigger the kind of panic buying that can even drive up oil prices more.
With federal tax credits gone and carmakers refocusing on gas-powered SUVs and trucks, the electric vehicle market was already struggling. The rising cost of fuel and a growing stock of used EVs change the math for consumers.
The economic landscape in this country looks very different now than it did four weeks ago, when the U.S. and Israel began waging a new war in Iran that has spread throughout the region. And the economic impact has been nothing but negative.