Watching Government: Forces behind gasoline prices

04/09/2012
As the US Senate moved toward its Mar. 29 vote on legislation that would have raised the nation's five largest oil companies' federal taxes, four experts reminded the Energy and Natural Resources Committee that forces driving global oil markets are still beyond Congress's control. Howard K. Gruenspecht, acting administrator at the US Energy Information Administration, said EIA expected oil costs to remain the major influence on gasoline and diesel fuel prices through the end of 2013. Significant uncertainties could push crude prices higher or lower than expected, Gruenspecht continued. He said a number of producers outside the Organization of Petroleum Exporting Countries are currently un...
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