Why Are Gas Prices So High If the U.S. Is Energy Independent?

Unfortunately, energy independence can’t keep U.S. gas prices down, and it isn’t enough to protect your stock portfolio either. Here’s why, and what worried investors should know.

A gas station sign shows $4.29 for regular gas and $4.99 for diesel.
(Image credit: Getty Images)

We’ve all seen the rising cost of oil and its ripple effect through the economy, especially on prices at the pump. You may have also read that the U.S. is energy independent or that we export more oil than we import and that Russian oil only makes up 3% of all U.S. oil imports.

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Adam Grealish
Head of Investments, Altruist

Adam Grealish serves as Head of Investments at Altruist, a fintech company on a mission to make great independent financial advice more affordable and accessible. With a career rooted in financial innovation, Adam most recently led Betterment's strategic asset allocation, fund selection, automated portfolio management, and tax strategies. In addition, he served as a vice president at Goldman Sachs, overseeing the structured corporate credit and macro credit trading strategies.