{"690188":{"#nid":"690188","#data":{"type":"news","title":"What\u2019s in the price of a gallon of gas?","body":[{"value":"\u003Cp\u003EThe U.S. Energy Information Administration expects nationwide retail gasoline prices to \u003Ca href=\u0022https:\/\/www.eia.gov\/outlooks\/steo\/\u0022\u003Eaverage near US$4.30 a gallon\u003C\/a\u003E for April 2026 \u2013 the highest monthly average of the year. The political response has been familiar. Georgia has \u003Ca href=\u0022https:\/\/www.multistate.us\/insider\/2026\/4\/6\/lawmakers-push-fuel-tax-relief-amid-rising-gas-costs\u0022\u003Esuspended its state gas tax\u003C\/a\u003E, other states are weighing their own tax holidays, and the White House has issued a \u003Ca href=\u0022https:\/\/www.marketplace.org\/story\/2026\/03\/19\/waiving-the-jones-act-will-boost-the-number-of-ships-available-to-transport-oil-in-the-us\u0022\u003Etemporary waiver of a law known as the Jones Act\u003C\/a\u003E in hopes of moving more domestic fuel to East Coast ports.\u003C\/p\u003E\u003Cp\u003EAs an \u003Ca href=\u0022https:\/\/scholar.google.com\/citations?user=jjvorcAAAAAJ\u0026amp;hl=en\u0026amp;oi=ao\u0022\u003Eenergy economist\u003C\/a\u003E, I am often asked about what contributes to gas prices and what different policies can do to affect them.\u003C\/p\u003E\u003Cp\u003EThe price of a retail gallon of gas is the sum of four things: the cost of crude oil, refining, distribution and marketing, and taxes.\u003C\/p\u003E\u003Cp\u003EIn nationwide figures from January 2026, crude oil accounted for \u003Ca href=\u0022https:\/\/www.eia.gov\/petroleum\/gasdiesel\/\u0022\u003Eabout 51% of the pump price\u003C\/a\u003E, refining roughly 20%, distribution and marketing about 11% and taxes about 18%. That mix shifts with conditions: When crude oil prices spike, that can drive more than 60% of the price; when the price drops, taxes and logistics are larger shares of the cost.\u003C\/p\u003E\u003Ch2\u003E\u003Cstrong\u003ECrude oil is the biggest ingredient\u003C\/strong\u003E\u003C\/h2\u003E\u003Cp\u003EBecause the price of crude oil is the largest element, most of the price at the pump is derived from the global oil market.\u003C\/p\u003E\u003Cdiv\u003E\u003Cdiv\u003E\u003Cdiv\u003E\u003Cdiv\u003E\u003Cdiv\u003E\u003Cdiv\u003EThis site is protected by reCAPTCHA and the Google \u003Ca href=\u0022https:\/\/policies.google.com\/privacy\u0022\u003EPrivacy Policy\u003C\/a\u003E and \u003Ca href=\u0022https:\/\/policies.google.com\/terms\u0022\u003ETerms of Service\u003C\/a\u003E apply.\u003C\/div\u003E\u003C\/div\u003E\u003C\/div\u003E\u003C\/div\u003E\u003C\/div\u003E\u003C\/div\u003E\u003Cp\u003EUsually, \u003Ca href=\u0022http:\/\/doi.org\/10.1257\/aer.99.3.1053\u0022\u003Ebig swings in crude prices\u003C\/a\u003E come mainly from shifts in global demand and expectations \u2013 not from supply disruptions, according to widely cited research in 2009 by the economist Lutz Kilian.\u003C\/p\u003E\u003Cp\u003EBut what is happening in early 2026 with the war in Iran is one of the exceptions: a \u003Ca href=\u0022https:\/\/theconversation.com\/us-is-less-prone-to-oil-price-shocks-than-in-past-decades-277709\u0022\u003Eclassic supply shock\u003C\/a\u003E. \u003Ca href=\u0022https:\/\/www.iea.org\/reports\/oil-market-report-april-2026\u0022\u003ESevere disruptions to shipping through the Strait of Hormuz\u003C\/a\u003E and attacks on Middle East oil infrastructure have taken millions of barrels a day off the global market.\u003C\/p\u003E\u003Cp\u003EMost drivers generally can\u2019t quickly reduce how much they drive or how much gas they use when prices rise, so \u003Ca href=\u0022https:\/\/www.dallasfed.org\/research\/economics\/2020\/0616\u0022\u003Egasoline demand doesn\u2019t change much in the short run\u003C\/a\u003E. That means a jump in crude costs tends to result in people paying more rather than driving less.\u003C\/p\u003E\u003Ch2\u003E\u003Cstrong\u003ERefining, regulations and the California puzzle\u003C\/strong\u003E\u003C\/h2\u003E\u003Cp\u003ERefining turns crude into gasoline at industrial scale. The U.S. doesn\u2019t have a single gasoline market, though. Roughly \u003Ca href=\u0022https:\/\/www.epa.gov\/gasoline-standards\/reformulated-gasoline\u0022\u003Ea quarter of U.S. gasoline\u003C\/a\u003E is a cleaner-burning blend of petroleum-derived chemicals called \u201c\u003Ca href=\u0022https:\/\/www.epa.gov\/gasoline-standards\/reformulated-gasoline\u0022\u003Ereformulated gasoline\u003C\/a\u003E,\u201d which is required in urban areas across 17 states and the District of Columbia to reduce smog.\u003C\/p\u003E\u003Cp\u003ECalifornia uses an \u003Ca href=\u0022https:\/\/ww2.arb.ca.gov\/our-work\/programs\/fuels-enforcment-program\/california-reformulated-gasoline\u0022\u003Eeven stricter formulation\u003C\/a\u003E that few out-of-state refineries make. California is also geographically isolated: No pipelines bring gasoline in from other U.S. refining regions.\u003C\/p\u003E\u003Cp\u003ECalifornia\u2019s gasoline prices have long run above the national average, explained in part by \u003Ca href=\u0022https:\/\/www.eia.gov\/todayinenergy\/detail.php?id=65184\u0022\u003Ehigher state taxes\u003C\/a\u003E and stricter environmental rules. But since a \u003Ca href=\u0022https:\/\/www.csb.gov\/exxonmobil-torrance-refinery-explosion-\/\u0022\u003Erefinery fire in Torrance, California, in 2015\u003C\/a\u003E reduced production capacity, the state\u2019s prices have been \u003Ca href=\u0022https:\/\/haas.berkeley.edu\/energy-institute\/about\/in-the-media\/mystery-gasoline-surcharge\/\u0022\u003Eabout 20 to 30 cents a gallon\u003C\/a\u003E higher than what those factors would indicate.\u003C\/p\u003E\u003Cp\u003EEnergy economist and University of California, Berkeley, professor Severin Borenstein has called this the \u201c\u003Ca href=\u0022https:\/\/haas.berkeley.edu\/energy-institute\/about\/in-the-media\/mystery-gasoline-surcharge\/\u0022\u003Emystery gasoline surcharge\u003C\/a\u003E\u201d and attributes it to the fact that there isn\u2019t as much competition between refineries or gas stations in California as in other states. California\u2019s own Division of Petroleum Market Oversight says the surcharge cost the state\u2019s drivers \u003Ca href=\u0022https:\/\/www.energy.ca.gov\/publications\/2025\/division-petroleum-market-oversight-2024-annual-report\u0022\u003Eabout $59 billion from 2015 to 2024\u003C\/a\u003E. It\u2019s not exactly clear who is getting that money, but it could be \u003Ca href=\u0022https:\/\/energyathaas.wordpress.com\/2023\/01\/09\/whats-the-matter-with-californias-gasoline-prices\/\u0022\u003Egas stations themselves or refineries\u003C\/a\u003E, through complex contracts with gas stations.\u003C\/p\u003E\u003Ch2\u003E\u003Cstrong\u003EGetting the gas into your car\u003C\/strong\u003E\u003C\/h2\u003E\u003Cp\u003EThe distribution and marketing category covers the costs of everything involved in getting the gasoline from the refinery gate to your tank.\u003C\/p\u003E\u003Cp\u003EGasoline moves by pipeline, ship, rail and truck to wholesale terminals, and then by local delivery truck to service stations.\u003C\/p\u003E\u003Cp\u003EAt the retailer\u2019s end, the key factors are station rent and labor, the cost to buy gasoline in bulk to be able to sell it, \u003Ca href=\u0022https:\/\/www.nerdwallet.com\/credit-cards\/learn\/what-are-credit-card-interchange-fees\u0022\u003Ecredit card fees\u003C\/a\u003E of as much as 6 to 10 cents a gallon at current prices, and franchise fees paid to the national brand, such as Sunoco or ExxonMobil, for permission to put their branding on the gas station.\u003C\/p\u003E\u003Cp\u003EMost gas station operators net \u003Ca href=\u0022https:\/\/www.convenience.org\/Media\/conveniencecorner\/Who-Makes-Money-Selling-Gas\u0022\u003Eonly a few cents per gallon\u003C\/a\u003E on fuel itself \u2013 which is why many gas stations are really convenience stores with pumps out front. Borenstein and some of his collaborators have also documented that \u003Ca href=\u0022https:\/\/doi.org\/10.1162\/003355397555118\u0022\u003Eretail gas prices rise quickly\u003C\/a\u003E when wholesale costs climb but fall slowly when wholesale costs drop.\u003C\/p\u003E\u003Ch2\u003E\u003Cstrong\u003EThe question of gas tax holidays\u003C\/strong\u003E\u003C\/h2\u003E\u003Cp\u003EThe federal government charges a tax on fuel, of \u003Ca href=\u0022https:\/\/www.eia.gov\/tools\/faqs\/faq.php?id=10\u0026amp;t=5\u0022\u003E18.4 cents a gallon for gasoline\u003C\/a\u003E and 24.3 cents a gallon for diesel. States charge their own taxes, ranging from \u003Ca href=\u0022https:\/\/taxfoundation.org\/data\/all\/state\/gas-taxes-state\/\u0022\u003E70.9 cents a gallon for gas\u003C\/a\u003E in California to 8.95 cents in Alaska.\u003C\/p\u003E\u003Cp\u003EWhen gas prices rise, many politicians start talking about temporarily suspending their state\u2019s gas tax. That does reduce prices, but not as much as politicians \u2013 or consumers \u2013 might hope. Research on past gas tax holidays has found that consumers get \u003Ca href=\u0022https:\/\/budgetmodel.wharton.upenn.edu\/issues\/2022\/6\/15\/effects-of-a-state-gasoline-tax-holiday\u0022\u003Eabout 79% of the reduction\u003C\/a\u003E in gas taxes. That means oil companies and fuel retailers keep about one-fifth of the tax cut for themselves rather than passing that savings to the public.\u003C\/p\u003E\u003Cp\u003EGas tax holidays also reduce funding for what the \u003Ca href=\u0022https:\/\/blog.turbotax.intuit.com\/tax-deductions-and-credits-2\/the-highs-and-lows-of-gasoline-tax-15098\/\u0022\u003Etaxes are designed to pay for\u003C\/a\u003E, typically roads and bridges. That pushes road and bridge upkeep costs onto future drivers and general taxpayers.\u003C\/p\u003E\u003Cp\u003EThere is an additional problem, too: Taxes on gasoline are supposed to charge drivers for some of the \u003Ca href=\u0022https:\/\/www.nber.org\/papers\/w14685\u0022\u003Ecosts their driving imposes on everyone else\u003C\/a\u003E \u2013 carbon emissions, local air pollution, congestion and crashes. But Borenstein has found that U.S. fuel tax levels are already \u003Ca href=\u0022https:\/\/energyathaas.wordpress.com\/2022\/02\/28\/cut-the-electricity-tax-not-the-gas-tax\/\u0022\u003Efar below the true cost to society\u003C\/a\u003E. Removing the tax on drivers effectively raises the costs for everyone else.\u003C\/p\u003E\u003Cdiv\u003E\u0026nbsp;\u003C\/div\u003E\u003Ch2\u003E\u003Cstrong\u003EThe Jones Act: A small number that adds up\u003C\/strong\u003E\u003C\/h2\u003E\u003Cp\u003EThe \u003Ca href=\u0022https:\/\/theconversation.com\/soaring-gas-prices-prompt-trump-to-ease-oil-tanker-rules-how-waiving-the-jones-act-affects-what-you-pay-at-the-pump-278387\u0022\u003E1920 Jones Act\u003C\/a\u003E is a federal law that requires cargo moving between U.S. ports to travel on vessels built and registered in the U.S., owned by U.S. citizens, and crewed primarily by U.S. citizens and permanent residents. Of the world\u2019s 7,500 oil tankers, \u003Ca href=\u0022https:\/\/www.washingtonpost.com\/opinions\/2026\/03\/18\/jones-act-suspended-shipping-oil\/\u0022\u003Eonly 54 meet this requirement\u003C\/a\u003E. \u003Ca href=\u0022https:\/\/www.cato.org\/blog\/jones-act-forces-us-gasoline-take-long-way-home\u0022\u003EOnly 43 of these\u003C\/a\u003E can transport refined fuels such as gasoline.\u003C\/p\u003E\u003Cp\u003ESo, despite significant refining capacity on the Gulf Coast, some U.S. gasoline is exported overseas even as the Northeast imports fuel, in part reflecting the \u003Ca href=\u0022https:\/\/www.eia.gov\/analysis\/transportationfuels\/padd1n3\/\u0022\u003Erelatively high cost of moving fuel\u003C\/a\u003E between U.S. ports.\u003C\/p\u003E\u003Cp\u003EEconomists Ryan Kellogg and Rich Sweeney estimate that the law \u003Ca href=\u0022https:\/\/www.nber.org\/papers\/w31938\u0022\u003Eraises East Coast gasoline prices by about a penny and a half per gallon\u003C\/a\u003E on average, costing drivers roughly $770 million a year. In light of the war\u2019s effect on gas prices, the Trump administration has \u003Ca href=\u0022https:\/\/theconversation.com\/soaring-gas-prices-prompt-trump-to-ease-oil-tanker-rules-how-waiving-the-jones-act-affects-what-you-pay-at-the-pump-278387\u0022\u003Etemporarily suspended the Jones Act requirements\u003C\/a\u003E \u2013 an action more commonly taken when \u003Ca href=\u0022https:\/\/www.dhs.gov\/publication\/september-2017-jones-act-waivers\u0022\u003Ehurricanes knock out Gulf Coast refineries and pipeline networks\u003C\/a\u003E.\u003C\/p\u003E\u003Ch2\u003E\u003Cstrong\u003EWhat moves the number\u003C\/strong\u003E\u003C\/h2\u003E\u003Cp\u003EThe result of all these factors is that the price that drivers see at the pump mostly reflects the global price of crude, plus a stack of domestic costs, only some of which are inefficient.\u003C\/p\u003E\u003Cp\u003ETax holidays give a partial, short-lived rebate. Jones Act waivers trim pennies, though permanent repeal may cause more fundamental changes, such as \u003Ca href=\u0022https:\/\/www.cato.org\/publications\/policy-analysis\/jones-act-burden-america-can-no-longer-bear\u0022\u003Ereduced rail and truck transport of all goods\u003C\/a\u003E, which could lower costs, emissions and infrastructure damage associated with cargo transportation. Harmonizing fuel blends across states and seasons may lower prices somewhat, but likely at the expense of increased emissions.\u003C\/p\u003E\u003Cp\u003EUltimately, the best protection against oil price shocks is a more efficient gas-burning vehicle, or \u003Ca href=\u0022https:\/\/www.cnbc.com\/2026\/04\/02\/evs-autos-energy-oil-iran-war-electric-transport-fossil-fuels.html\u0022\u003Eone that doesn\u2019t burn gasoline\u003C\/a\u003E at all. In the meantime, the best I can offer as an economist is clarity about what that $4.30 actually buys.\u003C\/p\u003E\u003Cp\u003E\u003Cem\u003EThis article is republished from \u003C\/em\u003E\u003Ca href=\u0022https:\/\/theconversation.com\/\u0022\u003E\u003Cem\u003E\u003Cstrong\u003EThe Conversation\u003C\/strong\u003E\u003C\/em\u003E\u003C\/a\u003E\u003Cem\u003E under a Creative Commons license. Read the \u003C\/em\u003E\u003Ca href=\u0022https:\/\/theconversation.com\/whats-in-the-price-of-a-gallon-of-gas-281494\u0022\u003E\u003Cem\u003E\u003Cstrong\u003Eoriginal article\u003C\/strong\u003E\u003C\/em\u003E\u003C\/a\u003E\u003Cem\u003E.\u003C\/em\u003E\u003C\/p\u003E","summary":"","format":"limited_html"}],"field_subtitle":"","field_summary":[{"value":"\u003Cp\u003EThe U.S. Energy Information Administration expects nationwide retail gasoline prices to \u003Ca href=\u0022https:\/\/www.eia.gov\/outlooks\/steo\/\u0022\u003Eaverage near US$4.30 a gallon\u003C\/a\u003E for April 2026 \u2013 the highest monthly average of the year. The political response has been familiar. Georgia has \u003Ca href=\u0022https:\/\/www.multistate.us\/insider\/2026\/4\/6\/lawmakers-push-fuel-tax-relief-amid-rising-gas-costs\u0022\u003Esuspended its state gas tax\u003C\/a\u003E, other states are weighing their own tax holidays, and the White House has issued a \u003Ca href=\u0022https:\/\/www.marketplace.org\/story\/2026\/03\/19\/waiving-the-jones-act-will-boost-the-number-of-ships-available-to-transport-oil-in-the-us\u0022\u003Etemporary waiver of a law known as the Jones Act\u003C\/a\u003E in hopes of moving more domestic fuel to East Coast ports.\u003C\/p\u003E\u003Cp\u003EAs an \u003Ca href=\u0022https:\/\/scholar.google.com\/citations?user=jjvorcAAAAAJ\u0026amp;hl=en\u0026amp;oi=ao\u0022\u003Eenergy economist\u003C\/a\u003E, I am often asked about what contributes to gas prices and what different policies can do to affect them.\u003C\/p\u003E\u003Cp\u003EThe price of a retail gallon of gas is the sum of four things: the cost of crude oil, refining, distribution and marketing, and taxes.\u003C\/p\u003E\u003Cp\u003EIn nationwide figures from January 2026, crude oil accounted for \u003Ca href=\u0022https:\/\/www.eia.gov\/petroleum\/gasdiesel\/\u0022\u003Eabout 51% of the pump price\u003C\/a\u003E, refining roughly 20%, distribution and marketing about 11% and taxes about 18%. That mix shifts with conditions: When crude oil prices spike, that can drive more than 60% of the price; when the price drops, taxes and logistics are larger shares of the cost.\u003C\/p\u003E","format":"limited_html"}],"field_summary_sentence":[{"value":"Georgia Tech energy economist Bobby Harris said U.S. gasoline prices are driven mainly by crude oil costs, with refining, distribution and taxes accounting for a smaller and shifting share of what consumers pay at the pump. "}],"uid":"36413","created_gmt":"2026-05-07 13:46:11","changed_gmt":"2026-05-07 14:09:30","author":"pdevarajan3","boilerplate_text":"","field_publication":"","field_article_url":"","location":"Atlanta, GA","dateline":{"date":"2026-05-01T00:00:00-04:00","iso_date":"2026-05-01T00:00:00-04:00","tz":"America\/New_York"},"extras":[],"hg_media":{"680213":{"id":"680213","type":"image","title":"What-s-inthepriceofagallonofgas.jpeg","body":"\u003Cp\u003EGas prices were well over $4 a gallon on April 28, 2026, in Brooklyn, N.Y. \u003Ca href=\u0022https:\/\/www.gettyimages.com\/detail\/news-photo\/fuel-prices-are-displayed-at-a-brooklyn-gas-station-on-news-photo\/2273575764\u0022\u003ESpencer Platt\/Getty Images\u003C\/a\u003E\u003C\/p\u003E","created":"1778162898","gmt_created":"2026-05-07 14:08:18","changed":"1778162898","gmt_changed":"2026-05-07 14:08:18","alt":"A person filling gas in his car with the gas prices shown in the foreground","file":{"fid":"264457","name":"What-s-inthepriceofagallonofgas.jpeg","image_path":"\/sites\/default\/files\/2026\/05\/07\/What-s-inthepriceofagallonofgas.jpeg","image_full_path":"http:\/\/hg.gatech.edu\/\/sites\/default\/files\/2026\/05\/07\/What-s-inthepriceofagallonofgas.jpeg","mime":"image\/jpeg","size":243115,"path_740":"http:\/\/hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/2026\/05\/07\/What-s-inthepriceofagallonofgas.jpeg?itok=ROlYqpjU"}},"680212":{"id":"680212","type":"image","title":"the-cost-of-crude-oil-is-a-key-driver-of-gas-and-diesel-prices.png","body":"\u003Cdiv\u003E\u003Cem\u003EAs of January 2026.\u003C\/em\u003E\u003C\/div\u003E\u003Cdiv\u003EChart: The Conversation, CC-BY-ND Source: \u003Ca href=\u0022https:\/\/www.eia.gov\/petroleum\/gasdiesel\/\u0022 rel=\u0022nofollow noopener\u0022 target=\u0022_blank\u0022\u003EU.S. Energy Information Administration\u003C\/a\u003E \u003Ca href=\u0022javascript:void(0)\u0022 target=\u0022_self\u0022\u003EGet the data\u003C\/a\u003E \u003Ca href=\u0022https:\/\/datawrapper.dwcdn.net\/CnmrT\/1\/#embed\u0022\u003EEmbed\u003C\/a\u003E \u0026nbsp;\u003Ca href=\u0022https:\/\/datawrapper.dwcdn.net\/CnmrT\/full.png\u0022\u003EDownload image\u003C\/a\u003E Created with \u003Ca href=\u0022https:\/\/www.datawrapper.de\/_\/CnmrT\u0022 rel=\u0022noopener\u0022 target=\u0022_blank\u0022\u003EDatawrapper\u003C\/a\u003E\u003C\/div\u003E","created":"1778162088","gmt_created":"2026-05-07 13:54:48","changed":"1778162088","gmt_changed":"2026-05-07 13:54:48","alt":"Chart showing cost distribution of crude oil, refining, marketing and distribution and taxes for gas and diesel","file":{"fid":"264456","name":"the-cost-of-crude-oil-is-a-key-driver-of-gas-and-diesel-prices.png","image_path":"\/sites\/default\/files\/2026\/05\/07\/the-cost-of-crude-oil-is-a-key-driver-of-gas-and-diesel-prices_0.png","image_full_path":"http:\/\/hg.gatech.edu\/\/sites\/default\/files\/2026\/05\/07\/the-cost-of-crude-oil-is-a-key-driver-of-gas-and-diesel-prices_0.png","mime":"image\/png","size":81655,"path_740":"http:\/\/hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/2026\/05\/07\/the-cost-of-crude-oil-is-a-key-driver-of-gas-and-diesel-prices_0.png?itok=p_-8Gzh1"}},"680210":{"id":"680210","type":"image","title":"BobbyHarris-file-20260429-57-ux2drz.jpeg","body":"\u003Cp\u003EA tanker truck delivers fuel to a gas station. \u003Ca href=\u0022https:\/\/newsroom.ap.org\/detail\/IranUSOil\/aa65c07d8aa34344acfa1aa5bcfda39c\/photo\u0022\u003EAP Photo\/Erin Hooley\u003C\/a\u003E\u003C\/p\u003E","created":"1778161952","gmt_created":"2026-05-07 13:52:32","changed":"1778161952","gmt_changed":"2026-05-07 13:52:32","alt":"A tanker truck delivers fuel to a gas station. AP Photo\/Erin Hooley","file":{"fid":"264454","name":"BobbyHarris-file-20260429-57-ux2drz.jpeg","image_path":"\/sites\/default\/files\/2026\/05\/07\/BobbyHarris-file-20260429-57-ux2drz.jpeg","image_full_path":"http:\/\/hg.gatech.edu\/\/sites\/default\/files\/2026\/05\/07\/BobbyHarris-file-20260429-57-ux2drz.jpeg","mime":"image\/jpeg","size":101295,"path_740":"http:\/\/hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/2026\/05\/07\/BobbyHarris-file-20260429-57-ux2drz.jpeg?itok=SkqSopUw"}},"680211":{"id":"680211","type":"image","title":"BobbyHarris-file-20260318-71-tw0cca.jpeg","body":"\u003Cp\u003ESuspending the Jones Act allows foreign-based oil tankers to sail between U.S. ports. \u003Ca href=\u0022https:\/\/newsroom.ap.org\/detail\/OilPrices\/773825116ccd4cf8943c40836038be54\/photo?vs=false\u0026amp;currentItemNo=25\u0026amp;startingItemNo=0\u0022\u003EAP Photo\/Eric Gay\u003C\/a\u003E\u003C\/p\u003E","created":"1778161998","gmt_created":"2026-05-07 13:53:18","changed":"1778161998","gmt_changed":"2026-05-07 13:53:18","alt":"An oil tanker ship with the sun in the background and a man with a cap with a fishing poll in the foreground","file":{"fid":"264455","name":"BobbyHarris-file-20260318-71-tw0cca.jpeg","image_path":"\/sites\/default\/files\/2026\/05\/07\/BobbyHarris-file-20260318-71-tw0cca.jpeg","image_full_path":"http:\/\/hg.gatech.edu\/\/sites\/default\/files\/2026\/05\/07\/BobbyHarris-file-20260318-71-tw0cca.jpeg","mime":"image\/jpeg","size":127210,"path_740":"http:\/\/hg.gatech.edu\/sites\/default\/files\/styles\/740xx_scale\/public\/2026\/05\/07\/BobbyHarris-file-20260318-71-tw0cca.jpeg?itok=1ZUJVvv4"}}},"media_ids":["680213","680212","680210","680211"],"related_links":[{"url":"https:\/\/theconversation.com\/whats-in-the-price-of-a-gallon-of-gas-281494","title":"Original Article on The Conversation"}],"groups":[{"id":"1188","name":"Research Horizons"},{"id":"367481","name":"SEI Energy"},{"id":"1280","name":"Strategic Energy Institute"}],"categories":[{"id":"131","name":"Economic Development and Policy"},{"id":"144","name":"Energy"},{"id":"151","name":"Policy, Social Sciences, and Liberal Arts"},{"id":"135","name":"Research"}],"keywords":[{"id":"186858","name":"go-sei"},{"id":"187915","name":"go-researchnews"}],"core_research_areas":[{"id":"39531","name":"Energy and Sustainable Infrastructure"},{"id":"39511","name":"Public Service, Leadership, and Policy"}],"news_room_topics":[],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Ch5\u003EAuthor:\u0026nbsp;\u003C\/h5\u003E\u003Cdiv\u003E\u003Ca href=\u0022https:\/\/theconversation.com\/profiles\/robert-i-harris-2669057\u0022 rel=\u0022author\u0022\u003E\u003Cstrong\u003ERobert I. Harris\u003C\/strong\u003E\u003C\/a\u003E\u003C\/div\u003E\u003Cp\u003EAssistant Professor of Economics, Georgia Institute of Technology\u003C\/p\u003E\u003Ch5\u003EMedia Contact:\u003C\/h5\u003E\u003Cdiv\u003E\u003Ca href=\u0022mailto:shelley.wunder-smith@research.gatech.edu\u0022\u003E\u003Cstrong\u003EShelley Wunder-Smith\u0026nbsp;\u003C\/strong\u003E\u003C\/a\u003E\u003C\/div\u003E\u003Cdiv\u003EDirector of Research Communications\u003C\/div\u003E\u003Cdiv\u003EGeorgia Institute of Technology\u003C\/div\u003E","format":"limited_html"}],"email":["shelley.wunder-smith@research.gatech.edu"],"slides":[],"orientation":[],"userdata":""}}}