Quoted: Peter Carstensen of the University of Wisconsin-Madison Law School, who specializes in antitrust law and energy law, predicts the situation will improve but change will be slow.
“My expectation is prices are going to stabilize in a downward trend,” he said. “It’s not going to be a huge drop, but it’s going to continue to go down.”
Carstensen said that’s because domestic production is increasing and drivers will likely decrease their miles, slowing demand. Despite that, he said other problems will keep costs high.
“The capacity to do things inexpensively is just not there,” he said. According to Carstensen, supply chain issues, the need for new wells, limited refinery capacity and the crisis in Ukraine will be roadblocks to easing the burden on drivers.