Posted on 10/23/2021 1:54:57 PM PDT by Hojczyk
Gas prices have spiked to their highest level in seven years, according to an AAA report just released this week.
In some of the priciest gas stations in the U.S., a gallon is already costing $4.50 (or more)… up significantly from just a week ago.
And all indications point to prices rising even higher as we head into the winter heating season…
In fact, former White House economist Stephen Moore told me in this week’s podcast that he predicts “$5 oil at the pumps quite soon.”
You may remember that back in June, I wrote you could expect $75 to $100 oil before the end of the year, and, sure enough, we’re already there. The price of the key U.S. oil benchmark is around $82 a barrel as I write. And Brent crude oil – the international benchmark – is at multiyear highs as well… It’s around $84 per barrel today.
Oil has a direct correlation to gas prices, naturally, so Americans should be prepared for this inflation… at the gas pump and elsewhere.
Oil producers are clearly wary about the current regulatory environment, and they aren’t racing to replenish the low supply.
We can see evidence of this in the futures markets, too. The Wall Street Journal reported over the weekend that traders are betting the U.S. oil benchmark will surge above $100 a barrel this year, with some betting that the global benchmark, Brent crude, will reach a record high of $200 a barrel by December 2022. The article also warned of expected volatility…
(Excerpt) Read more at americanconsequences.com ...
Both of my < 3yr old cars and all lawnmowers/Snowblowers has been run on “Pure” gas over the last 3 years.
The “old” Truck mostly. Given the ever increasing gas prices, I’m not sure what I’m going to feed the 2 day old new truck.
Right?
Most towns have an Ethanol Free station. I tried www.gasbuddy.com but can’t find my EF station listed. No search function either.
Bring it on ! Just in time for the mid terms !
Democrats buy gas too. Maybe enough of them will wake the heck up.
Nope, the Dems will blame Trump and the stupid fools will believe it.
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