As of May 20th, gas prices have increased tremendously since the recent Russian invasion of Ukraine. Since the gas price inflation has affected countries worldwide, this is a macroeconomics issue. To mitigate this pressing issue, price gouging laws have recently been passed by legislators in the House of Representatives. Similarly, these kinds of laws were put in place last year for the east coast Colonial Pipeline Hacking oil problem. However, although these pricing laws created are to meant help, they may lead to more significant problems. For instance, they may cause customers to hoard more items from stores and accelerate shortages. The lower prices may cause these issues, and the higher prices may alert customers about scarce resources. So like the gas prices are signaling scarcity in oil, these laws may increase the problem. Hopefully, if countries utilize international trade to balance global supply and find ways to control inflation, things will turn out better for everyone.

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