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?
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