Posted on 10/24/2021 9:52:39 AM PDT by MNJohnnie
Gas prices are the highest they have been in seven years, and they are going to keep on climbing through winter.
Across the entire United States, the current average price for a gallon of gas is $3.37. The last time it averaged $3.37 a gallon was Sept. 17, 2014, according to records kept by AAA.
The lowest average for gas since that time was $1.76 a gallon on April 29, 2020.
“That was in the depths of the pandemic when everyone was staying home. Demand was low globally too, and since then it has crept up, a penny here and a penny there,” Andrew Gross AAA spokesman told The Epoch Times in a phone interview.
It goes to show how much demand affects prices. Other factors include the federal gas tax, 18.4 cents per gallon; and state gas tax, which is highest in Pennsylvania at 58 cents per gallon and lowest in Alaska at 8 cents per gallon.
The cost of crude oil drives 50 percent to 60 percent of the cost per gallon.
“As the price of crude oil goes up, it will at pump as well,” Gross said. “Crude oil has gone up 24 days in a row.”
While the average price per gallon Friday was $3.37 nationwide, the prices vary widely. Gas is $2.96 a gallon in Brooks County Texas, very close to the refineries. But that is a lot compared to a year ago when the average cost per gallon in Texas was $1.86.
The highest in the country is in Mono County California where drivers are paying $5.30 a gallon. Mono County is very far from refineries, Gross said. A year ago, California’s average was $3.19 per gallon.
Based on a vehicle with a 16-gallon tank, last year in California it cost $51.04 to fill that tank. Now it costs $84.80. That is $33.76 per tank more this year.
“Oil is a global commodity. It is bought, sold, and traded on a global basis,” Gross said. “During the depths of COVID, production was slashed everywhere, and we have not recovered from that. When the price dropped into negative barrel territory, there wasn’t an incentive to produce oil.” Some folks capped their wells, he said.
“It’s a temporary lag, but a painful lag. It’s going to take a while for production to catch up with demand,” Gross said. “With the U.S. economy recovering compared to a year ago, oil production is still below pre-pandemic levels.” And with a cold winter expected, more oil will go to heat homes, keeping demand high.
Demand is higher now, but production has not caught up.
The cost for a barrel of oil was $63 in August and now it is $83 a barrel. That is driving cost up, but also getting producers more interested in producing.
“I don’t really see relieve at the pump any time soon,” Gross said. “There is no shortage of oil or gasoline in the country. Consumers are just paying more at the pump, unfortunately.”
I did not vote democrat!
We need to be energy self sufficient.
We were under Trump. US became an energy exporters for the 1st time in 70 years.
Then Biden took office and implemented 16 Executive Orders designed to obstruct domestics fossil fuel production.
We practically were in 2020, but America didn’t like mean tweets...
Stolen elections have consequences!
Never fear! The Biden Democrats assure us this is all “transitory” and has nothing at all to do with their bad energy and fiscal polices.
Yes, we might ask OPEC to send us more gas, but that is so voters don’t blame dems for high prices in November. But actually trying to get more fuel into Americans’ tanks at a cheaper price, why that’s absurd, backwards thinking.
/s
“The last time it averaged $3.37 a gallon was Sept. 17, 2014”
Gee, let me think. Who was President in 2014 and didn’t he do the same thing Biden did? Clamp down of US energy production and make his Muslim oil buddies richer.
“Gas Inflation Kicks Drivers in the Pocket Book..”
“Minorities and women (democrats) hit hardest..”😎
So in just 9 months and 4 days Xiden has made it difficult to get to the store to look at empty shelves or vastly inflated prices on the food that is still there. And for a guy who wanted the job Joe sure doesn’t spend much time doing it. I saw an article over at DailyCaller about that, “Plagued By Numerous Crises, Biden Has Spent More Time Away From White House Than Trump Did In His First Year”, so give that a look. Considering the damage Joe has been able to do in just 9 months and 4 days it’s probably a good thing he doesn’t work more. If I didn’t know better I’d almost think that Xoe...okay, he did it intentionally.
We WERE until January 20, 2021 at noon. Then it magically stopped. We were the #1 producer of oil AND natural gas in the world AND a net exporter. Now we are begging OPEC for help again. SMH!
Yes, democRATs who didn’t win behaving as if they did.
The price of gasoline is cheap. It’s the cheapest it’s been since 1978 when adjusted for inflation.
https://www.usinflationcalculator.com/gasoline-prices-adjusted-for-inflation/
People think it’s high because it was ridiculously cheap recently, but that never lasts. You haven’t seen high gas prices yet, but you will if Democrats stay in power.
I did not vote democrat!
That’s why it’s important that the US has a strong second amendment.
The roads still seem to be jam-packed - nobody is cutting back on driving because of gas prices yet.
Its like $3.52 here in my corner of IL
IMHO Americans will grudgingly tolerate $4/Gal, gasoline, but we will drastically change our driving habits if a gal. of gasoline approaches $5/gal.- TOM
Energy prices don't just show up at the pump. They show up in every single little thing your buy.
Wait till our gas shortage carries over into our coming war with China. Fossil fuels will always be the most cost-effective energy source. If the environmentalists don’t ruin our energy industry, Biden and the Chinese will.
We were under Trump, and, unless we have a MAGA attitude again, the Chinese will eat our lunch when they invade.
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