Causes and Implications of Rising Gas Prices

Causes and Implications of Rising Gas Prices

The average price of a gallon of gas in the U.S. has risen by 19 cents in the past two weeks. Guest host Tom Gjelten and a panel of experts discuss what's behind the increase and the political implications.

The average price of a gallon of gas nationwide stands at $3.72, rising by 19 cents in the past two weeks, and up now for 21 days in a row. Gas prices have never been this high in February. One big reason: tension around Iran is driving up the price of oil. Forecasters say U.S. gas prices could reach four dollars a gallon by July. President Obama could tap the Strategic Petroleum Reserve to bring prices down a bit but his Republican opponents want more domestic drilling. Guest host Tom Gjelten and a panel of experts discuss the economic and political impact of rising gas prices and what it means for consumers.

Guests

Dean Baker

co-director of the Center for Economic and Policy Research and author of, "The End of Loser Liberalism: Making Markets Progressive." Blog is called "Beat the Press"

Coral Davenport

energy and environment correspondent, National Journal.

J. Robinson West

chairman of PFC Energy, an energy consulting firm

John Ydstie

economics correspondent, NPR

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