Publication

In this report, the authors examine the increase of gasoline prices and its reasons as well as short term policy options. The covered short-term options are: i) Strategic Petroleum Reserve Release, ii) Gasoline Tax Holiday, iii) Relaxing Fuel Specifications, iv) Restricting Refined Products Exports, v) Limit Financial Speculation, vi) Diplomatic Measures. The paper concludes that many of the policies that can address the impact of rising gasoline prices on consumers are long-term in nature. Many short-term options, however, face competing national security, public health, and fiscal priorities. And it is uncertain how significant an impact any of them may have and if other developments may offset impacts.