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Exploring the impact of summer driving on gas prices, US energy policies under Biden and Trump, challenges in gas and oil production, California's gas price hikes, China's emissions impact, and future energy strategies in a conservative administration.
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Quick takeaways
- Summer demand, EPA regulations, and limited supply on the west coast impact gas prices.
- Government policies focusing on electric vehicles and limiting oil production can lead to price hikes.
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Factors Driving Gas Prices
Nationwide, the average cost for a gallon of gas is about $3.60, with crude oil prices being a significant factor contributing to this cost. Additionally, refining costs, taxes, and distribution/marketing play roles in determining gas prices. Specifically, on the west coast, where special gasoline formulations are required, prices tend to be the highest due to limited supply sources.
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highlights
Listen to the best highlights from the podcasts you love and dive into the full episode