Posted on 02/25/2022 5:13:26 PM PST by blam
As Charles Kennedy writes at OilPrice.com, U.S. gasoline prices are rising after the Russian invasion in Ukraine and could hit $4 per gallon, according to data from the AAA.
The average price per gallon of gasoline reached $3.57 as of Friday, according to GasBuddy data, after starting the week at $3.51. A year ago, the average price for gasoline was $2.65 per gallon.
“Russia is one of the leading oil producers globally, behind only the United States and Saudi Arabia and if they choose to withhold their oil from the global market, such a move would eventually be reflected in higher gas prices for American drivers,” AAA spokesman Andrew Gross said, as quoted by the Epoch Times.
The gas price increase to $4 could happen in the next few weeks, according to analysts, if the conflict continues that long.
President Joe Biden this week tried to quench worries about the security of energy supply, saying, “We’re closely monitoring energy supply for any disruption, and we’re executing a plan … toward a collective investment to secure stability in global energy supplies.”
The president also assured the public the White House will take steps to control prices at the pump, with Biden saying, “I want to limit the pain to the American people fueling at the gas pump … This is critical to me.” No concrete measures for reining in prices were mentioned.
Fighting the surge in gasoline prices will be even tougher today than it was last year when Biden released crude from the strategic petroleum reserve.
◾First, there is the tight global supply of crude, which has been fueling the price rally even before Russia moved on Ukraine.
◾Second, there is the fact that the U.S. is a major importer of crude oil and has a limited source of it because of its sanctions against Venezuela. As a result, Russia has become a major supplier of the heavy crude U.S. refineries need to produce fuels. Sanction action on Russia’s energy industry could interfere with Biden’s plans for reining in fuel prices at home.
[ZH: All of this has prompted Democratic leaders to panic (as we are sure their constituencies are also every time they have to fill their tanks), with U.S. Sen. Mark Kelly (D-Ariz.) on Friday called for President Biden to release oil from the national stockpile and support legislation to suspend the federal gas tax in 2022 as he pushes to relive gas prices that rose after Russia invaded Ukraine.
“As Russia continues its unprovoked attack on Ukraine, the average price of crude oil could remain above $100 per barrel and push the price of regular unleaded even higher than it is now,” Kelly wrote in his letter.
“Hardworking families cannot continue to bear the economic hardship of high gas prices while paying for more expensive groceries and medicine. Even before the crisis in Ukraine, Arizona families struggled with costs at the pump,” he continued.
So, this isn’t all Putin’s fault!!??
Perhaps Senator Kelly and his central-planning pals should have glanced at the following chart before suggesting more Einsteinian madness…
,/A>
The strategic petroleum reserve has released over 75 million barrels in the last year and gas prices at the pump are up 70%.
But Kelly said in his letter “another release, especially if done in coordination with our allies and other nations, could help blunt rising oil prices and the corresponding prices that Americans pay at the pump.”
Because doing the same thing and expecting a different outcome is… well, you know.
Democrats who voted for Biden knew that he is part of their war on fossil fuels. Don’t know why they are crying about it, they are getting their wishes fulfilled.
He’s in Delaware for the weekend. That’s “something”.
Energy prices are the result of policies. You set the policy and then, months or years later, the prices change. Making current technology energy unaffordable is a central tenant of what it means to be a Democrat. If Biden was to change a single policy, say approving more pipelines or opening Federal lands for lease, it would cause a seismic revolution in the loudest and most well-funded, nut-case element of the party. And there’s NOTHING he could do that would bring down gas prices quickly enough to benefit the Democrats in the near term. It would only cause the climate idiots to stay home and not vote. So, they have made all of our beds and now we get to lie in them.
God, I miss the mean Tweets.
He’ll do something - in his pants.
Yeah.. 4 dollars. We’ll be WISHING for 4 dollars if the DC freedom rally sparks a result like Canada and American truckers simply stop driving.
They say everything is going to get bad. I believe that’s an understatement.
Biden and the Democrats sold the farm to Russia. Now they can’t do anything substantive to Russia without causing massive damage to us and Europe.
Biden is buying more oil from Russia ,LOL
Do something? Biden Killed the pipeline and you jackasses cheered. Killed drilling and you jackasses cheered. Shut off oil exploration and you cheered. Took us from largest oil exporter to biggest oil importer and you cheered. Now all of the sudden you want Biden to do something? He did morons. Its what you wanted. He did everything you ever wanted. Now the people are going to crusify you! Feel the pain beeotches!
I topped off one of my cars yesterday. I’ll fill up the other one tomorrow, but it uses premium fuel, so YIKES! I’ll just have to let it sit most of the time.
Been wondering where the heck is Kelly? His own polling in AZ must be weakfish. But where’s his Armalite? maybe he could use it to hold up a gas pump?
Biden and the Dems will trot out price controls on gas and diesel.
Since I am recovering from surgery and working from home for a couple of months until surgery two, I may have driven a whopping five miles this month.
Nowhere to go really.
I filled up a couple of weeks ago.
This early am I had a dream that my filling station closed, was emptied and boarded up within a matter of hours. Now, I’m not particularly anxious, just thought it interesting.
Releasing oil from the National Stockpile does nothing.
But, coming from Kelly in Arizona, one shouldn’t expect the Democrats to know anything or care.
Anyone know how they get gas? Do they have a special pump they can go to? And, more importantly, who’s paying for it?
Additionally, given that the VERY LARGE MAJORITY of federal law enforcement agents, and other support personnel, with government provided vehicles do pretty much NOTHING, are there any programs that can be applied to them and limit their fuel consumption? We shouldn’t be paying for them to run errands to Home Depot and Ace Hardware, on the weekend, just in case there is a cataclysmic event somewhere. No reason they can’t start commuting to work like the rest of us America and get in their work car, like most cops do. And partner them up, you’d cut the entire fleet in half. No more fuel, tires, oil changes, and other maintenance.
Biden already did something.
Here’s wishing you a speedy recovery. :)
He is doing something. He shut down the Keystone pipeline and new drilling in the US.
Very kind. Thank you.
Assuming there is nothing blown to pieces here in the US, I am hoping for mid April for repair surgery.
Monday I go to see the main man of surgery for probably a glorified check up.
We think Kelly was a beneficiary of stolen elections.
No way would Arizona elect a gun grabber.
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