Posted on 03/08/2022 2:13:12 PM PST by blam
Prices at the pump have now soared to $4.173 per gallon for regular gasoline, according to Price Information Service (OPIS). This firm collects and calculates US pump prices for American Automobile Association (AAA). On Monday evening, prices surpassed the previous record high set in 2008 and continue marching higher Tuesday.
As gasoline prices increase and inflation reaches the highest levels in four decades, times are becoming much harder for the average consumer, experiencing a persistent rise in the prices of many goods and services. Steeper gas and food prices have forced millions of people to rejigger household budgets.
The latest research note from Yardeni Research estimates the average household will spend an additional $2,000 per year in gasoline on top of an extra $1,000 in food expenses. Adding this all up, the typical household will spend $3,000 less this year on other things.
Consumer sentiment remains at an eleven-year low as inflation soars. People living paycheck to paycheck are getting hit the worst. Some are choosing between feeding their family or filling up their tank.
“Today, I’m not filling up all the way because I have other expenses,” Bebi Amzad, who commutes to Newark from Linden, N.J., told NYTimes. “Everybody is hurting.”
The latest jump in gas prices is 55 cents a gallon in just the last week and 63 cents since Feb. 24, when Russia invaded Ukraine.
On social media, consumers were furious with the Biden administration about the meteoric rise in gas prices.
My youngest already takes the bus to work. Yesterday I looked up route for hubby. He’s not going to like it! #gasprices
— SheSpeaksHerMind (@SheSpeaksHerMi4) March 8, 2022
Makes no sense. Gas prices have risen steadily since this Administration began. Has nothing to do with Russia. Just use our own oil. We have plenty. 🙄
— ernest t bass (@ernestt77827750) March 8, 2022
This is Biden’s war to drive gas prices higher & increase EV sales. Ukraine is never going to join NATO. A comedian is playing the role of President of Ukraine, and you’re falling for it! LOL
— Lucy Liu (@rxpert10) March 8, 2022
Americans at all income levels are being impacted by inflation, which has weighed on President Biden’s polling number ahead of midterms.
Tom Kloza, the global head of energy analysis for the OPIS, warned on Monday, “we’ll hit $4.50 a gallon before it turns around … the risk is how bad this gets, how long this goes on. Even $5 a gallon nationwide is possible. I wouldn’t have predicted that before the fighting started.”
Meanwhile, Biden blamed Russian President Vladimir Putin for ‘hurting Americans at gasoline pumps.’ A deflection Biden badly needs ahead of midterms.
So what’s the breaking point for consumers as gas and groceries become more expensive by the week?
When gas gets this high, everything that is delivered by truck is going to go up. And what is delivered by truck? Just about everything.
$1.89 under President Trump, here in the Midwest.
Now $3.79 under Joe.
Now that’s progress! 🙄
This is what America deserves for allowing Biden to be put in office (and yes I blame myself here too)
(every liberal I know thinks it is worth it)
They’ll never admit to this disaster.
Nor will they ever admit that a man in a woman’s dress is still a biological male.
Me too.
It's exactly 5.1 miles roundtrip to the wooded park where me and my dogs have gone walking every day for the last 15 years.
(I'm so boring. Neighbors say they set their clocks by my daily movement)
“..This is what America deserves for allowing Biden to be put in office (and yes I blame myself here too),,,”
^THIS^
Elections have consequences.
Stolen elections have the destruction of a country.
$3000. Is that a lot? sarc
That sound you hear is the middle class becoming the lower middle class.
I know people will often make jokes about this sort of thing, but it’s really serious for my personal situation.
I decided to retire, rather than be forced to take the vax. My daughter has started a part-time job, but she isn’t making nearly what I made, and a raise is likely not in her near future.
My husband really wants to retire, but he just can’t now. I feel like he’s going to have top work until he dies ... it’s that iffy for us right now.
Sad thing is ... he served for over 22 years in the Air Force, and we will be barely making it paycheck to paycheck if this keeps up.
But don’t worry, Joe declared “we’re gonna make it” !
For living a block from the best beach on the east coast imo, they treat me ok. They do go up every year, but only small increases.
And why do they always leave out the cost of heating fuel. That is no small deal. People needing to find thousands more per year to keep warm on top of the rest.
Good thing I prepared myself financially for retirement. I can absorb this, but a lot of people can’t.
$4.99 for premium at the station I normally fill up at. It was $2.50 on election day.
Of course killing Keystone XL and canceling oil and gas leases on federal lands played no part in this. And now this dementia-addled imbecile is going to fly to Saudi Arabia and grovel for more oil. How pathetic. Strangely though, I'm not hearing anyone brag about how they voted for this POS and what a great job he's doing.
I cut my husbands hair, grow my own garden, hubby hunts and butchers our meat....
we'll eliminate as prices go up....not playing their game.
just got my property tax valuation and it went up 15% from last year
I don’t get my electric bill until tomorrow but my friends said electricity went up 30% this month
I don’t see myself ever getting to retire either
and I am a very frugal person
It is probably felt by DC and the lamestream media the public might join the truckers if told ?
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