Posted on 01/27/2021 6:40:02 PM PST by lowbridge
The price of a gallon of unleaded gasoline rose to an average $2.40 in the U.S. on Monday — its highest level in 11 months, according to travel club AAA.
The average price per gallon in Nebraska rose 5 cents in the past week to $2.35. In Iowa, it rose a penny to $2.33 a gallon.
And yet the world remains in the grip of a deadly pandemic. Tourism and entertainment venues remain either closed or operating well below capacity. Unemployment in the U.S. remained high at 6.7% last month.
Gas prices are supposed to remain low when demand is low. Remember the rapid price plunge to $1.75 or lower as demand hit the skids while we stayed home to flatten the curve last spring?
So what gives? Experts say optimism is fueling the increase. Traders have been driving up prices of crude oil futures — which are prices they wager the commodity will be worth over the next weeks and months — because they believe we’ll be getting back to normal life soon.
“The biggest contributor to rising oil prices is the hope in the market that the COVID vaccine will help global fuel demand recover,” AAA spokesman Mark Jenkins said be email.
(Excerpt) Read more at omaha.com ...
“So what gives? Experts say optimism is fueling the increase. Traders have been driving up prices of crude oil futures — which are prices they wager the commodity will be worth over the next weeks and months — because they believe we’ll be getting back to normal life soon.”
Yeah....rriiigghhhttt.
Not Prosperity.
Fuel is up 22 cents in Nebraska not 5 cents. I live there.
So...which members of the Deep State got SloJo to end fracking, the pipeline, and leases in order to make billions off of the average American?
“Rising gas prices are a reason to cheer;”
Can you believe that headline?
God strike down these POS enemedia scum... “optimisM’ is NOT driving prices up you lying POS scum, it’s the dementia-ridden dumbass and his handlers systematically decimated the supply. Macro 101 - Supply lowered while demand remains the same - prices rise.
God strike down these POS enemedia scum... “optimisM’ is NOT driving prices up you lying POS scum, it’s the dementia-ridden dumbass and his handlers systematically decimated the supply. Macro 101 - Supply lowered while demand remains the same - prices rise.
Inflation is back. The government is printing money like mad, and it has to happen.
What a bunch of BS. Gas prices are rising because of Biden and his policies.
What can you expect from the people who gave us Ben Sasse. I’ll bet the farmers can enlighten this dufus
BS.
Nebraska gas prices went up 30 cents overnite when Xiden signed his stupid EO about the pipeline.....
Actually the price of oil has been going up for some time but gasoline didn’t follow at first. Now it is catching up.
Get ready for $3.50 to $4.50 within 18 months when Biden’s disaster reaches it’s full effect. Less jobs, higher prices, it’s the Democrat way.
Inflation is back. The government is printing money like mad, and it has to happen.
The rise in gas prices has nothing to do with “printing”. That canard has been wrong since 2007.
Inflation is back. The government is printing money like mad, and it has to happen.
The rise in gas prices has nothing to do with “printing”. That canard has been wrong since 2007.
Thanks, commies.
Has NOTHING to do with Chairman Bidung signaling the left is in full bore destroy gas and coal mode. NOTHING at all.
If rising gas prices are good, does that mean falling gas prices are bad?
OPEC is now a thing again.
It’s the BIG OIL COMPANIES! THEY’RE GOUGING.. YEAH.
Some like rising house prices and some like rising gas prices.
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