Why gas prices are high and won’t be going down anytime soon

Guest: Jim Williams, president and energy economist at WTRG Economics

As the world watches the horrors of the Russian invasion of Ukraine, the ripple effects are being felt around the globe. With ever harsher sanctions effectively banning Russian imports, including oil, gas prices keep jumping higher as this conflict continues on. But that isn’t the only reason why prices have jumped at the pumps. Other factors are a low supply and an increase in demand as the world opens up with pandemic restrictions lifting. Experts say these surging prices could be here for a long time, and while countries and governments search for solutions and more capacity, people should prepare for pain at the pumps for the foreseeable future.

This episode was produced by Raju Mudhar, Brian Bradley and Matthew Hearn.