Gas prices are rising as the global economy improves and Saudi Arabia and Russia continue to cut oil production. Naturally increased demand and artificially reduced supply have led to the highest seasonal gasoline prices in U.S. history. Prices have risen by 7.8% in just eight weeks, making up more than half of the increase in August’s consumer price index. Further increases will likely prevent inflation from falling any more, and there’s little the American government can do about it.
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