Gas prices may be down from where they were about a month ago, but they’re by no means cheap.
The price at the pump is hurting everyone because we’re not paying roughly double what we were paying when President Trump was in the White House.
I can remember seeing the memes circulating about how $5 was “gas money” once again. Not so much anymore. Gas is currently the highest that it’s been in about 8 years and it’s expected to go up more.
You may remember that about a month ago, Joe Biden released some of the oil reserve in an effort to try and stabilize skyrocketing oil and gas prices across the country as we approached the holiday season.
Because of this, gas prices have gone down from a national average of $3.42/gal to an average of $3.29/gal.
That’s good news though, right? Well, not exactly. The first obvious thing we all know is that gas has increased dramatically since President Trump left office.
The second thing is that we shouldn’t get too excited yet, because while they’re a tiny bit lower than was it was a few weeks ago, it’s still high and we’re probably not even at the top of the range yet.
It’s very likely that we’ll hit $4 and we probably would have been pretty close already had Biden not done what he did with the oil.
Don’t take that as me giving him a thank you for lowing our gas a measly $0.20 per gallon because that’s a pittance. He is the reason why it’s so high to begin with so for me to give him any credit at all, he’s got to get it below where President Trump had it.
According to the New York Post,
Gasoline prices are on track to reach a national average of $4 a gallon next year — just in time for the summer driving season, according to a new forecast.
Consumers will get walloped just as school lets out and families take to the road, predicts GasBuddy, an app that tracks fuel prices and energy demand.
“We could see a national average that flirts with, or in a worst-case scenario, potentially exceeds $4 a gallon,” Patrick De Haan, GasBuddy’s head of petroleum analysis, told CNN, which first reported the eye-popping price.
Prices will rise again in 2022, GasBuddy contends, because several major refineries in Louisiana and Texas are down and demand is soaring, creating a perfect storm in which already strained supplies will be stretched further. Refinery capacity fell to a six-year low in 2021.