Gasoline Prices Could Spike This Winter

Gasoline prices in the United States could spike this winter as an embargo on Russian oil imports comes into effect in the European Union, Treasury Secretary Janet Yellen has warned. Speaking to CNN, Yellen said that “Well, it’s a risk. And it’s a risk that we’re working on the price cap to try to address.” Yellen was the first official to propose a price cap on Russian oil exports as a means of reducing Russia’s revenues from energy exports that, according to Washington and other western capitals, fund what…