Gas prices in the United States are going up at the fastest rate in history. As the war in Ukraine rages on, and NATO and the West put stranglehold sanctions on Russia, the price of oil is going berserk.
As of today, average gas prices in America are at $3.84 a gallon. Gas prices are now going up almost ten cents a day.
Consider this: one week ago, Americans were paying around a quarter less per gallon across the country. Then, you have to ask yourself how bad things might be at the pump in a month or two.
Combined with skyrocketing inflation, we have all the ingredients for an economic collapse on a worldwide scale.
How Bad Will It Get?
Oil is currently trading at over $112 per barrel. This is the worst it’s been since the 2008 financial crisis, but it’s nowhere near maxing out.
According to economists, we’re looking at up to $130 per barrel down the road, and gas prices will go up accordingly.
Americans are already struggling after two years of being locked inside and having their businesses hit by restrictions and closures.
Even though COVID restrictions like masking and social distancing are now proven to have saved no lives, they certainly destroyed a lot of people’s livelihoods.
Now, we have a scenario of gas prices rising through the roof, and the price of gas is a big part of why inflation is going up. As oil prices rise, we’re looking at a lot of consequences across the board as well, not just on gas prices.
In particular, consumers and businesses are looking at even worse supply chain problems and delays, which is the last thing our economy needs right now!
Pelosi comes out against increasing US oil production to reduce gas prices.
“I’m not for drilling on public lands.” pic.twitter.com/TZh08aCOuT
— Mike Berg (@MikeKBerg) March 3, 2022
Prepare for Serious Sticker Shock
Everything from your food to your products in the store is going to be going up in price more and more. Ordering online will take longer; prices at the pump and other essentials are likely to get much worse in the coming months.
Our energy industry was already doing quite badly before Putin decided to roll into Ukraine, as a result of the Biden regime’s anti-American energy policies.
Recall that Joe Biden canceled the Keystone XL pipeline on day one in office and moved to ban drilling on federal land soon after.
He’s been consistently anti-energy from the start in some kind of ideological attempt to force Americans to go green and drive electric vehicles. It’s coincided with a disastrous slide into inflation that’s now even more serious.
This is the time to take serious action, but Biden and other leading Democrats like Nancy Pelosi aren’t interested. They want to keep things like the ban on federal land drilling in place.
Of course they do; the gas hikes don’t affect their massive net worth and spending power, only the little guys they claim to represent.
Gas prices don’t just “seem alarming” — Americans are paying 40% more at the pump, that’s terrifying. Americans need energy independence provided by the Keystone XL Pipeline, not pipe dreams that keep us dependent on foreign oil. pic.twitter.com/Qps7oqxkIq
— Tim Scott (@SenatorTimScott) March 3, 2022