Posted on 08/06/2021 1:28:26 PM PDT by Diana in Wisconsin
Gas prices have surged to a new seven-year high and while some experts predict they’ll come down soon, others expect more pain at the pump if crude oil prices rise.
For the week of Aug. 2, the national average for a gallon of regular gasoline rose by a little over two cents compared to the prior week to $3.159, a seven-year high, according to the U.S. Energy Information Administration.
The American Automobile Association said it expects gas prices to remain elevated at least through the beginning of August.
“On average, motorists are paying 15 cents more to fill up since the beginning of May,” said Jeanette McGee, AAA spokesperson, in a statement. “August could prove to be even more expensive if crude oil prices increase, driven by market concerns of rising COVID case numbers and how that could negatively affect global demand in the near future.”
Oil prices rose more than 1 percent on Thursday on increasing Middle East tensions, though gains were capped as fresh restrictions to counter a surge in COVID-19 cases threatened the global energy demand recovery.
GasBuddy head petroleum analyst Patrick De Haan told Fox Business in an interview that he believes gas prices are “close to a peak,” adding that he expects to see the top come in within a week or two as the vacation season trails off.
“We should then see prices start to taper off as demand cools off as we head back into routines from summer vacations,” De Haan told the outlet.
In a tweet, De Haan said he expects a further cooling in gasoline demand as some companies postpone plans to resume in-office work due to a resurge in cases of COVID-19, the disease caused by the CCP (Chinese Communist Party) virus.
“Given today’s disclosure that Amazon is joining others in delaying a return to office, I see additional downside to #gasprices. It’s clear with Delta surging that gasoline demand will fall off heading into fall,” de Haan said in the tweet.
The Centers for Disease Control and Prevention (CDC) considers the Delta variant of the CCP virus to be more transmissible and potentially more resistant to vaccines.
3.35 a gallon here.
Couldn’t make it back to my 1000 gallon tank at the shop.
That still has a few hundred gallons of trump diesel in it (1.89 a gallon)
YAY BIDEN!!! Great job. AND, shrinkflation of at least 25% in the stores I frequent. Good beer is about $12 a six pack. Even the dollar store has shrunk most of their products by half.
This is the reward I get for building a pump gas street/strip truck.
Dems just love those high gas prices from Biden. And the higher food and retail prices, too.
How can they be that stupid along with being evil? A twofer.
Example of stupid: They naively believe the news report quote yesterday from Biden’s HHS Secretary: “We are doing so very well on our handling of the border and it is really an ongoing struggle against the four lost years of the bad policy that caused the problems we are now solving.”
INCREDIBLE.
This is what happens when you discourage investment in new oil fields and shut down refineries and existing production.
Local price here: $4.99 per gallon for premium
On Sand Hill Road (heart of Silicon Valley): $5.79 per gallon
Welcome to the green new deal!
Eww, “Fresh.”
Inflation + Crime > Election Theft
Gas is high - but food prices feel worse...
When Bush was pres media slobs camped out in gas stations, waiting for the owner to come in and change the sign to a number with a 4 in front. (Yes, they did. I saw it).
The next day every man, woman and child knew that gas was over $4.
During the reign of Emperor Bammy, not a word. During Uncle Joe’s Reign of Dementia, total silence.
Women and minorities are being hit the hardest.
The dems smile at your pain.
Gas is at OBAMAPRICE
For some reason the western part of the U.S. has the highest gas prices.
I live in Vegas and I have to use 91 Octane. I filled up about 5 days ago at a Shell station and it was about $4.27/gal.
I came across a gas receipt a couple of weeks ago from June 2020: unleaded regular $1.819 per gallon!
hopefully what happens in vegas stays in vegas...
2.95 in western nc today
E0 91 Octane [pure] gas went to $4.15 the other day...
70 cents more? Try $1.10 higher here in Missouri. $1.79 up to $2.89 and rising. I hope the dems are happy. Course these prices only effect those making 400K or more.
Old cars ftw. Unplug my speedo cable and they can’t prove anything. Dumped my 16 escape and kept my 91 YJ as I anticipate this kinda garbage soon. They’ll have insurances lay the groundwork first.
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