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The U.S. produces the most oil in the world. So why are gasoline prices so high?

By Market Watch April 29, 2026 Neutral
The U.S. produces the most oil in the world. So why are gasoline prices so high?
Americans are paying the highest prices for gasoline in nearly four years, leading to frustration at the pump and to worries about higher inflation and a weaker economy.
Americans are paying the highest prices for gasoline in nearly four years, leading to frustration at the pump and to worries about higher inflation and a weaker economy.