Gas prices edge closer to $3 a gallon, hit highest level since pandemic began
The average price of gasoline continued to rise last week, climbing 7.5 cents per gallon to $2.72, according to GasBuddy data. That’s the highest level the company has tracked since the pandemic began.
The national average price of diesel jumped 9.2 cents in the last week and stands at $2.93 per gallon.
“Gas prices continued to surge last week following cold-weather-related shutdowns in Texas, but … the impact from the cold has likely run its course. However, several other factors will rise in their influence on gas prices again, including the fact that gasoline demand continues…,” said Patrick De Haan, head of petroleum analysis for GasBuddy.
“On the supply side, the number of oil rigs active in the U.S. stands nearly 50% lower than a year ago, which is a large factor driving prices up. To put it simply, demand is recovering much, much faster than oil production levels, which is why oil prices have soared. This week, OPEC will be meeting to hopefully increase oil production to temper the rise in prices, but will they increase oil production enough to match the growing appetite of a global economy that’s seen oil demand jump?” said De Haan.
And we’re going to get fucked by OPEC.
Biden has been President for 40 days and we’ve gained a whole dollar on a gallon of gas.
How much worse do you think it will get?
The question is, will Biden make it another 40 days before Democrats turn on and remove him.
I figure gas will be at $4 a gallon by summer and stay there for the foreseeable future. This will in turn hurt the economy, but that’s the whole point. Insane urbanite liberals who don’t drive and rely on public transportation to get around will applaud; the rest of the nation will suffer.
The local talking heads while moaning about the price increase are blaming it all on the weather, no mention of China Joe’s executive orders. Not sure what they’ll blame it on come summer, probably SUVs.
Im expecting $5/gal next year.
Remember, the _previous_ Obama administration discussed $8 a gallon as their target.
I was paying $2.01/gallon last March for gas. Yesterday, I paid 2.57/gallon. A whole $7 more for a fill up and I’m filling up once every 2 months these days.
Texas was just down for a week.
Are you guys always this hysterical?
You realize that cost increase gets added to literally everything you see, touch and buy right?
I can’t tell if you’re being serious or sarcastic.
It’s not about Texas being down, it is about domestic drilling being severely reduced, higher global demand, increasing crude prices, and buying oil externally while also selling far less of it. Any effects from Texas drilling and refining being impacted by the weather will be very short term compared to the other issues. That is what is going to cause prices to increase and the only difference from today in 2020 versus 2021 is the domestic drilling moratorium.
How about the people that have to fill up every other day?
My BIL has a construction job that is clear across the metropolitan area this month.
Twenty gallons is now $14 more (Twice This Week!). That is $140+ more per month.
A previous job I had was 50 miles each way. Workmates were driving TWICE as far. It was a good job, but the place was literally in the middle of Nowhere NE.
I believe the answer from the Woke Nomenklatura would be something along the lines of “move closer to where you work, or get a job closer to where you live”.
To them, if a peon deplorable isn’t able to walk, bike, or take public transport to their job, then they’re killing the Earth and are making the Baby Greta cry, and that’s a bad, problematic thing. So, like with the pipeline people, making that job go away is Good For The Earth.
That the job is probably actually essential to the whole “let’s not starve to death” civilization thing is just a minor detail that such educated and enlightened Neo-Aristocrats can happily overlook. Like they overlook their own driving large distances to get to their own jobs.