Why are gas prices falling? (And why is food so expensive?)

The Biden administration has recently touted falling gas prices in the USA, but the true cost of gasoline may actually be much higher. And what do high corn and food prices have to do with it? Food shortages incoming!

Links:

AAA Gas Prices
https://gasprices.aaa.com/?Country=US

Biden touts falling gas prices during virtual meeting
https://www.pbs.org/newshour/politics/watch-biden-touts-falling-gas-prices-during-virtual-meeting

Biden waiving ethanol rule in bid to lower gasoline prices
https://www.cnbc.com/2022/04/12/biden-waiving-ethanol-rule-in-bid-to-lower-gasoline-prices.html

Why Your Gasoline Won’t Take You As Far As it Used To
https://oilprice.com/Energy/Energy-General/Why-Your-Gasoline-Wont-Take-You-As-Far-As-it-Used-To.html

Higher Blends Infrastructure Incentive Program
https://www.rd.usda.gov/HBIIP

USDA Has Provided $700 Million to Restore Sustainable Fuel Markets Hit by Pandemic
https://www.usda.gov/media/press-releases/2022/06/03/usda-has-provided-700-million-restore-sustainable-fuel-markets-hit

What shortage is up next? Corn
https://www.bendbulletin.com/business/what-shortage-is-up-next-corn/article_dd1a8608-248e-11ed-91b5-03dc17a35175.html

13 ways corn used in daily lives
https://www.farmprogress.com/vegetables/13-ways-corn-used-our-everyday-lives

Feedgrains Sector at a Glance
https://www.ers.usda.gov/topics/crops/corn-and-other-feedgrains/feedgrains-sector-at-a-glance/

Ethanol Blamed for Record Food Prices
https://www.technologyreview.com/2011/03/23/196198/ethanol-blamed-for-record-food-prices/

U.S. corn-based ethanol worse for the climate than gasoline, study finds
https://www.reuters.com/business/environment/us-corn-based-ethanol-worse-climate-than-gasoline-study-finds-2022-02-14/