another new high
Gas prices usually peak in May, but not this year. Gas prices hit another new high. The new high for the price of gas is now $4.62. That is nearly $.50 higher than last month. It’s 50% higher than last year. 7 states average over $5.00 a gallon. We have 2 more states ready to cross that line. The refineries are unable to keep up with the demand for gas, diesel, and jet fuel. Prices will continue to grow. More shortages are likely. Gas prices and shortages will hurt consumers with inflation.
People are looking forward to traveling after Covid. Gas and inflation are now going to impact travel for those excited to travel. 90% of Americans take the price of gas into consideration when planning for travel. Americans are still planning on traveling, but are going to shorten the distance.
In Washington state, they are preparing for double digit prices. Gas pumps are not capable of double digit prices. In anticipation of the continued rise, they added an extra digit to their pumps. Democrats know that this inflation and gas prices are going to hurt them in the November election. Gas prices are not the only issue in Washington. More than 10 gas stations ran out of gas, including Exxon’s and Circle K’s.
Biden blames everyone
Prices have gone through the roof since Biden became POTUS. He shut down the Keystone pipeline and the Enbridge Line 5. The Colonial Pipeline was hacked and this caused the East coast to run out of gas. Then just last month he cancelled a 1 million plus acre oil lease in Alaska as well as off shore oil leases in the Golf of Mexico. They say the reason is lack of interest in drilling and conflicting court rulings. We need supply to get these prices down and the answer of this administration is to restrict it even farther. 13 states are challenging the order.
The oil companies explained why the prices are high. They also explained in a hearing why we have shortages. It is most definitely this administration’s fault.
Biden actually states they don’t have a plan to bring prices down. Instead he blames everyone, Putin and the war, Republicans, Oil Companies (you know, the ones he restricted), and Donald Trump. In his fantasy world that he lives in, he can blame whoever he wants, but Americans know the truth and even Democrats are unhappy.
the growing shortage of diesel
Diesel prices are 75% higher than last year. This drives inflation even higher. Fuel prices are passed on down the line until they hit the consumer. We will pay the cost of the high diesel prices in everything that we buy. This is going to hurt. Truckers can’t afford to buy gas so trucks will sit. When they can’t get gas because there is none, trucks will sit. When trucks sit, nothing moves. Stores will be empty worse than they already are now. And not just stores, deliveries to everywhere.
Trucking companies are scared because the East Coast has the lowest amount of diesel on record. Agriculture, industrial, and transportation will all be impacted by the shortage. East Coast refineries have been cut in half. This means processing has been cut in half. All of this combined is going to make for crippling inflation.