Skip to main content
Monday, November 9, 2026Nov 9
Subscribe
All Sections
Search
More

This story is free to read.

Study: Want lower gas prices? Ship more oil abroad

FILE - In this Wednesday, June 4, 2014 file photo, Marty Mascio of Pembroke Pines, Fla., selects a grade of gasoline as he fills up his car at a Chevron station in Pembroke Pines. Lifting restrictions on exports of crude oil from the U.S. would benefit the U.S. economy and lead to a slight dip in gasoline prices, according to a study released Tuesday, Sept. 9, 2014. (AP Photo/Wilfredo Lee, File)
FILE - In this Wednesday, June 4, 2014 file photo, Marty Mascio of Pembroke Pines, Fla., selects a grade of gasoline as he fills up his car at a Chevron station in Pembroke Pines. Lifting restrictions on exports of crude oil from the U.S. would benefit the U.S. economy and lead to a slight dip in gasoline prices, according to a study released Tuesday, Sept. 9, 2014. (AP Photo/Wilfredo Lee, File) FILE - In this Wednesday, June 4, 2014 file photo, Marty Mascio of Pembroke Pines, Fla., selects a grade of gasoline as he fills up his car at a Chevron station in Pembroke Pines. Lifting restrictions on exports of crude oil from the U.S. would benefit the U.S. economy and lead to a slight dip in gasoline prices, according to a study released Tuesday, Sept. 9, 2014. (AP Photo/Wilfredo Lee, File)

By Associated Press 1 min read

NEW YORK (AP) – Exporting more U.S. oil around the world would lower the price of gasoline for U.S. drivers and benefit the nation’s economy, according to a new study.

While the conclusion may be counter-intuitive, the reasoning is straightforward: It would encourage more U.S. oil production and put that crude on the global market. That would lower the global price of oil, which is linked closely to the price of gasoline in the U.S.

Previous studies have reached similar conclusions. The latest study, released Tuesday, was conducted for the Brookings Institution, by NERA Economic Consulting.

It calculates that pump prices would fall by 8 cents to 12 cents per gallon on average, depending on how much oil is ultimately found and when the existing restrictions on exports are lifted.