WCPO: Gas prices are a microcosm of a larger issue

“In the long run, the president and U.S. government can certainly influence what the price of oil is by making it easier to open up more areas of exploration. In the short run, there's not so much the president can do," Jones said. "Gasoline is just one of many products and services affected by inflation. That's part of the overall story. Rather than focusing on one particular issue, I think there's a lot that can be done to bring inflation down. And bringing inflation down would bring down gas prices."

There are many factors that have caused inflation, including stimulus checks and supply chain issues.

"In the immediate future, actions may not translate into changes in inflation," Jones said. "His words themselves do matter. That's why everyone is paying attention to what he's saying."

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Featured image at top courtesy of Unsplash.