Price Ceiling on Gasoline

Should a price ceiling (limit) be imposed on gasoline prices in the US? Why or Why not?

Introduction

Price ceilings are mainly meant for controlling the price hike in any society and to ensure that the citizens get the products at right and suitable prices. Gasoline prices in United States have been the centre of attention of economists since past few years and the question of placing a price ceiling on them has been gaining attention, mainly because of the sheer importance and significance of the topic. It is eminent to mention here that the United States government has been ...