More from National Journal. Many voters are suspicious about the causes of soaring gasoline prices. A t this point, the eventual political fallout of soaring gasoline prices is not all that clear. Not when one candidate is part of the incumbent Administration. And the other candidate used to be an oilman.
Experts say there are lots of reasons for the oil shock.
Reformulated gasoline requirements imposed by the Environmental Protection Agency. Price gouging by oil companies that saw their profits jump 500 percent this year. Factor in a booming economy, the summer driving season, and the recently acquired suburban taste for vehicles that look like armored personnel carriers, and you've got the formula for a demand explosion. The political impact depends on whether voters blame government or business. The answer is both.