Rising gas prices, as usual, have prompted all sorts of theories about the economics of energy, some of them very, very questionable. But while supply and demand are at work here, it’s not normal supply and demand.

The economics of gas prices are, let’s just say, rather complicated.

[Image via I love charts]

Daniel Luzer

Daniel Luzer is the news editor at Governing Magazine and former web editor of the Washington Monthly. Find him on Twitter: @Daniel_Luzer