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The hit to your pocketbook from higher gasoline prices: $2,000 a year (minimum)
See BS 'News' ^ | 3/07/22 | Aimee Picchi

Posted on 03/08/2022 3:39:24 AM PST by Libloather

American consumers are already struggling with the highest inflation in four decades - a phenomenon that is eating into buying power and eroding wages. But more economic pain may be in store, with one analyst estimating that the recent surge in gas prices following Russia's invasion of Ukraine could add up to $2,000 in annual costs to the typical household budget.

The average cost for a gallon of regular gasoline has surpassed $4 per gallon for the first time since 2008. Many consumers have seen prices at the gas pump rise swiftly, with the price of regular gas jumping 41 cents during the first full week of Russia's war in Ukraine, according to AAA.

That will likely cost the typical household an additional $2,000 per year in gasoline costs, according to Yardeni Research in a Monday research note. That comes on top of about $1,000 in extra costs at the grocery store due to inflation, which means the typical household will have $3,000 less this year to spend on other items, Yardeni said.

Consumers are fretting about the impact on their budgets - with some already planning to cut back on driving, and watching their spending. That could pose a threat to the pandemic's economic rebound, given that personal consumption contributes about 70% of gross domestic product, according to the Federal Bank of St. Louis.

When local gas prices recently jumped to about $4.25 per gallon, writer Andrew Liptak of Barre, Vermont, said he emailed his boss to ask if he could work from home because his roughly 34-mile round trip to the office - which covers hilly terrain and thus consumes more gas - suddenly become a lot pricier.

(Excerpt) Read more at cbsnews.com ...


TOPICS: Business/Economy; Conspiracy; Health/Medicine; Travel
KEYWORDS: brandon; gasoline; pocketbook; prices
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To: JonPreston

No, you are the child. Children just whine and whine and whine.


21 posted on 03/08/2022 4:41:59 AM PST by BiglyCommentary
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To: Libloather

It’ll be higher. With the impending fertilizer shortage and price surge there, if crop yields are down as a result, regulations which mandate oxygenated fuel will force that component costlier. Utilization between corn for food and for fuel will pressure those prices higher.


22 posted on 03/08/2022 4:42:56 AM PST by Sgt_Schultze (When your business model depends on slave labor, you're always going to need more slaves)
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To: BiglyCommentary

The Reagan 49 state legacy on conservatism is what exactly?


23 posted on 03/08/2022 4:44:28 AM PST by JonPreston (Q: Never have so many, been so wrong, so often)
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To: JonPreston

My original post was talking about 2024, yet you mumble about living in the past. Go read the post again.


24 posted on 03/08/2022 4:48:17 AM PST by BiglyCommentary
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To: Gen.Blather

Wow. Was in lumber yard last week, 2x4 is $7. CRAZY!

People are either spending savings or borrowing on speculation repayment will be in funny money, inflated dollars.


25 posted on 03/08/2022 4:50:20 AM PST by Cboldt
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To: BiglyCommentary

About 2024. They stole 2020, so what has the Republican party done to secure 2024?


26 posted on 03/08/2022 4:51:50 AM PST by JonPreston (Q: Never have so many, been so wrong, so often)
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To: Cboldt

2x4s have been $7-$8 dollars for about a year or more.


27 posted on 03/08/2022 4:52:32 AM PST by BiglyCommentary
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To: Libloather
jensocki said the other day that there were over 9,000 capped oil rigs in the USA so there is an abundant supply of domestic oil.

What she failed to say, is with the pipelines closed, you'd have to drink the oil at the well head, because you can't move it to where it is to be refined.

The XL pipeline can move almost 900,000 barrels a day, and it can be in operation this this year, but no-go-slow-joe, shut it down with his first official act back in 2021.

Closing all the public lands to new drilling is costing the USA, over a million barrels a day {minimum} and we are now trying to buy oil from communist dictators and iranian mullahs.

Good grief.

28 posted on 03/08/2022 4:54:29 AM PST by USS Alaska (NUKE ALL MOOSELIMB TERRORISTS, NOW.)
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To: JonPreston
About 2024. They stole 2020, so what has the Republican party done to secure 2024?

SCOTUS just pissed down our leg again by accepting the demonRAT redistricting plan in several key states including PA.

I've been a poll watcher for over 20 years, and all I got to do was watch the demonRAT steal the election, legally complain and testify, and watch the courts give us the finger.

We've tried to pass new laws, only to watch them get booted.

I have no clue.

29 posted on 03/08/2022 5:03:13 AM PST by USS Alaska (NUKE ALL MOOSELIMB TERRORISTS, NOW.)
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To: Travis McGee

Oh man, that meme is so spot on!


30 posted on 03/08/2022 5:04:14 AM PST by Flick Lives (The CDC. Brought to you by Pfizer)
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To: Flick Lives

31 posted on 03/08/2022 5:10:25 AM PST by Travis McGee (EnemiesForeignAndDomestic.com)
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To: USS Alaska
I've been a poll watcher for over 20 years, and all I got to do was watch the demonRAT steal the election, legally complain and testify, and watch the courts give us the finger. We've tried to pass new laws, only to watch them get booted.

When they steal our franchise, and then codify the theft, unrealistic optimism is better left to lunatics.

32 posted on 03/08/2022 5:11:15 AM PST by JonPreston (Q: Never have so many, been so wrong, so often)
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To: BiglyCommentary

I bought 20 or so to build a Christmas float. I think about $4 each then. But could have been just an opportune week to buy, too.

No so long ago they’d go on sale for 88 cents. Those days are gone. Even the crap $1 loaf of bread at WalMart just went up to $1.10


33 posted on 03/08/2022 5:15:36 AM PST by Cboldt
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To: Cboldt

Last March/April when lumber was hitting all time highs (about where lumber is now), Home Depot and Lowes had $7.98 as the price for basic pine 8’ 2x4s.


34 posted on 03/08/2022 5:24:05 AM PST by BiglyCommentary
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To: TigerClaws
Blacks and women hit hardest...

Not necessarily. The Squad will propose a free gas card for hard-hit favored client groups.

35 posted on 03/08/2022 6:22:44 AM PST by Pearls Before Swine
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To: Travis McGee

LOL!


36 posted on 03/08/2022 6:26:49 AM PST by Flick Lives (The CDC. Brought to you by Pfizer)
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To: Gen.Blather

I’m surprised lumber delivery trucks don’t have a guy riding shotgun.


37 posted on 03/08/2022 6:28:07 AM PST by nascarnation (Let's Go Brandon!)
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To: EvilCapitalist

3k a yr? That is cheap compared to the estimated $1,000 a month more on the grocery bills.


38 posted on 03/08/2022 6:29:07 AM PST by oldasrocks
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To: WeaslesRippedMyFlesh

No new taxes? The guberment will be fast to complain there are less gallons being sold so they need to increase the gas tax per gallon to keep the coffers filled so they can drain it for other pet projects.


39 posted on 03/08/2022 6:32:47 AM PST by oldasrocks
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