The President's Options Are Limited To Help Gas Prices

The video discusses the surge in fuel prices due to increased demand and supply chain issues post-pandemic. While the national average is over $3.40 per gallon, California faces record highs. Local variations in Los Angeles show some relief, but overall, high crude oil prices keep costs elevated. The government is struggling to manage the situation, with OPEC refusing to increase supply. Consumers are advised to adopt fuel-saving measures. The economic impact is significant, affecting businesses and consumers alike. The situation is expected to persist into the New Year, with holiday travel likely to be affected.

What impact do high gas prices have on businesses and consumers?

What is the expected duration of the high gas prices according to the report?