GasBuddy Head of Petroleum Analysis Patrick De Haan joins Yahoo Finance Live to discuss why gas costs so much, forecasts for lowering gas prices, President Biden's proposed federal gas tax holiday, and travel trends.
Oil prices traded higher Friday, helped by continued tight supply, but the market is still heading for a second weekly fall on fears that tight monetary policy will push the global economy into recession. By 08:45 AM ET (1245 GMT), U.S. crude futures traded 2.3% higher at $106.66 a barrel, but still on course for a weekly loss of around 3%, while the Brent contract rose 2.1% to $112.34 a barrel, set to lose 1% this week. The crude market has been helped by comments from the Libyan oil minister, who said late Thursday that the National Oil Corporation chairman was withholding production data from him.
Bipartisan Policy Center Policy Analyst Emerson Sprick joins Yahoo Finance Live to assess the financial impact rising gas prices is having on hourly wage workers, the trade-offs workers are making, and labor market trends