It’s at the top of mind both politically and personally for many Americans as threats of soaring gas prices have people in Washington pointing fingers and citizens in their homes wondering whether it’s time to trade in their Ford Explorer. Gas is a hot topic thanks to turmoil in the Middle East and the fact that it’s an election year.
We haven’t made it to driving season yet and the prices are already notable. At Business Insider, it’s a topic of discussion daily:
- Watch Gas Prices LITERALLY Rise Before Your Eyes
- PROOF: The Gas Price Surge Is Mostly Media Manufactured Hype
- Here’s The REAL Reason Gasoline Prices Have Been Surging In The US
- Surging Gas Prices Threaten One Of The Best Years American Farmers Have Ever Had
- 10 US Cities With The Cheapest Gas Prices
What are the dynamics behind the rise. Is it just a minor glitch, a self-correcting anomaly that will work itself out later this year? Can President Obama turn it into a non-issue by election time? If he does, will the Republicans have wasted time and money highlighting it as a reason to vote him out, only to have that rug pulled out from under them?
Will travel be hampered this summer? It is supposed to be the second travel boom in as many years after recession and joblessness kept families at home for a while.
Iran is playing chicken with the world right now. Who will break first?
These and other questions will be answered in the coming months. For now, let’s take a look at what H&R Block put together. This visualisation looks at the what and why of the prices at the pump. Click to enlarge.