Gas prices

Inflation at the pump is in the pipeline for August. It would likely show up right before the Fed’s September interest rate meeting.

Last year's price spike was largely the result of a shortage of refining capacity.

Oil companies have been hampered by labor and capital costs and $70 a barrel may not be enough to lure them.

Biden authorized the release of crude from the Strategic Petroleum Reserve to boost supply and ease gas prices after Russia invaded Ukraine.

Shortages of labor and materials are making it hard to drill and maintain wells.

Services like Uber and Lyft are trying to get more people to drive for them. The math isn't working out for many drivers.

Gas stations are usually separate from the big oil conglomerates whose names they carry. Owners are often individuals with some control over what you pay at their pumps — but not much.

There are a lot of variables that make predicting energy demand in 2023 difficult, including rising interest rates, inflation and potential COVID flare-ups.