Gas prices nationwide continue to surge. The Energy Information Administration reported that last week’s national average was $3.79 per gallon for regular gasoline, nearly a dollar higher than they were the same week in 2010. Assistant professor of economics Zhongmin Wang is an expert in regulatory and energy economics and is currently researching strategic pricing behavior in various gasoline markets. Here, he discusses the ebb and flow of gas prices throughout the year, why they are at record highs, and their economic impact.
A new study by the World Bank found that food prices have increased 30 percent over the last year, driving some 44 million people into extreme poverty since June. Grigorios Livanis, assistant professor of international business and strategy at Northeastern University, assesses the problem.