After a brief break in high fuel prices, those prices are now rising with a vengeance. Fuel prices are up more than 25 cents a gallon nationwide in the last month alone and are now at an average of $2.68 a gallon for regular. It's only going to get worse.
Fuel prices are spiking…or will soon.
Fuel prices are expected to spike in the coming weeks and even more this summer.
Several mainstream articles warn of the coming rise in fuel prices. All of these articles provide various reasons why the prices are rising. For example, some articles report the increase in prices is "just the market." Others say it's COVID. None of these reports say it's the oil companies, the Great Reset, or Wall Street.
In other words: Go back to sleep, America, and pay through the nose when you wake up. And don't you dare complain about it.
The rise in fuel prices is nothing new. Being told to dismiss it and go on as usual is also nothing new. This article tells you why gas prices skyrocketed in 2018 as well as a look at rising prices back in 1973.
Why are prices rising this time?
YAHOO offers several different reasons for the rise in prices.
COVID: Long before the storms, the oil and gas industry was reeling from plummeting fuel sales caused by COVID. By late 2020 there were more than a dozen refinery closures that reduced U.S. production by more than 1 billion barrels per day.
U.S. oil and gas producers lost tens of thousands of jobs last year, and laid-off workers were left scrambling to make ends meet.
COVID VACCINES: "As more Americans are vaccinated, and life begins to return to something closer to normal, people are likely to drive and fly more. And that trend will contribute to rising fuel costs."
SUMMER: American drivers could find themselves spending close to $3 a gallon for gasoline, on average, by Memorial Day, according to both AAA and GasBuddy.