News Analysis The drain Americans feel from increased gasoline prices owes to policy decisions by President Joe Biden, the Russian invasion of Ukraine, and several other factors, according to several experts. Gasoline now costs about $4.30 a gallon on average, according to GasBuddy. That’s the most expensive since the United States built up its refining capacity in the 1920s. With diesel around $5, the transportation of goods has gotten more expensive too, burdening the entire economy. By comparison, in early 2020, before the COVID-19 pandemic hit the United States, gas was selling for about $2.50 a gallon. A series of events led to this point. COVID-19 The pandemic and the following lockdowns sent demand plummeting. Oil producers only started to cut back at the end of March, leading to a supply glut. For a moment, the WTI crude oil price index turned negative as storage filled up and holders of …