Gas Back Over $3.50
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Gas prices are rising again.
The Nationwide average price is now $3.54 a gallon.
This is up 20 cents in just one month.
The nationwide average price for regular gas topped $3.54 a gallon, a spike of more than 45 percent under President Joe Biden, AAA reported Wednesday.
In the past month, gas prices rose 20 cents ($3.34), about one dollar more expensive ($2.38) than when Trump left office.
Gas prices remain high and could go higher due to industry and political factors. Biden’s economic war on American energy independence during instability in the Middle East and in Ukraine are significant factors.
…
“A number of factors driving oil prices higher. So you have the expectation that OPEC+ is going to carry on with their production cuts. There’s also been rising tensions in the Middle East. That has also been sending prices higher,” Yahoo News’ Ines Ferre reported Wednesday.
Gas could hit higher than $4 a gallon.
The average cost of gasoline could rise to $4 a gallon this summer, reigniting inflationary pressures and weighing on motorists’ wallets.
According to the American Automobile Association (AAA), the national average for a gallon of gasoline has surged by about 15 percent year to date to $3.53.
“Watch out for summer gasoline prices, which some predict may extend above $4 per gallon nationwide and put pressure on inflation,” said Rob Thummel, a senior portfolio manager at Tortoise.
