Gas prices have fluctuated over the past few years. What drives prices at the pump? Two-thirds of the price is determined by the price crude oil brings on the world market.
Hamilton, James. "Historical Oil Shocks," National Bureau of Economic Research Working Paper No. 16790, February 2011.
Hamilton, James. "Will high oil prices bring a new recession?" "Econbrowser" blog, May 4, 2011.
Hughes, Jonathan E., Christopher R. Knittel and Daniel Sperling. "Evidence of a Shift in the Short-Run Elasticity of Gasoline Demand," National Bureau of Economic Research Working Paper No. 12530, September 2006.
The U.S. Energy Information Agency analyzes the influences on oil markets