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Matthew Kandrach

The U.S. is playing energy inflation whack-a-mole. Gasoline prices have retreated from wallet-draining summer highs, but consumers now find themselves looking at surging natural gas and electricity bills.

The global energy crisis — driven by a warring Russia cutting oil and gas to western Europe — continues to batter both energy markets and American families’ budgets. U.S. natural gas prices, which had been extraordinarily low for a decade, have doubled this year — and quadrupled since the start of the pandemic, even reaching 14-year highs in August.

Matthew Kandrach is president of Consumer Action for a Strong Economy, a free-market advocacy organization.

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