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Why are gas prices going up?

Some have said that President Biden's cancellation of the Keystone XL pipeline early in his presidency would quickly result in higher gasoline prices — but that's not the case, said energy fellow Mark Finley. For starters, the pipeline wasn’t operating yet. "Revoking it does nothing to today’s balance" of supply and demand, he said.

On the supply side, OPEC and Russia have made voluntary production cuts, which has the effect of raising prices, Finley said, and U.S. companies are investing less in finding new sources of oil. Read more at Politifact.