The release of strategic oil reserves announced by the International Energy Agency will deliver substantially lower prices for vehicle fuels over the next six months than would otherwise have been the case.
Assuming that world commodity prices over the next six months continue to be elevated and volatile, temporarily subsidising or capping natural gas prices would be an effective way to protect European households and businesses from high energy bills.
The vulnerability of the European economy to high and volatile fossil fuel prices indicates the need for stronger incentives to promote decarbonisation rather than rowing back on policy support for the energy transition.
The release of strategic oil reserves announced by the International Energy Agency will deliver substantially lower US gasoline prices at the pump over the next six months than would otherwise have been the case.
Assuming that world oil prices over the next six months continue to be elevated and volatile, temporarily suspending the federal gasoline tax would deliver substantially lower gas prices at the pump than otherwise over that period.
A temporary cap on US gasoline prices would substantially lower prices at the pump over the next six months without creating scarcity.
