If several Democratic lawmakers have their way, consumers could soon get a break from a tax of 18.3 cents per gallon.

Biden’s ban on Russian oil may raise already high fuel prices. Though recessions followed past runups, this time may be different.

Gas prices are based on oil prices, and traders are getting nervous about a potential ban on imported Russian oil.

Europe and the U.S. have not ruled out bans on oil and gas purchases. For some countries, ending imports would be harder than for others.

“It is ultimately about supply and demand,” one expert says. And COVID-19.

President Biden has released 50 million barrels of oil from strategic reserves, but oil production hasn’t caught up to pre-pandemic levels.

They’re high because oil producers aren’t ramping up supply quickly enough.

Officials are considering releasing oil from the strategic reserve. They’re also pushing the FTC to investigate possible price gouging.

Vijay Vaitheeswaran, editor at The Economist, on what energy shortages and rising fuel prices mean for the transition to clean energy.

Demand shot up this summer as people hoped to get out. Then Hurricane Ida stopped some production.