Another record for US fuel prices: “Since Biden entered, there has been a 100% jump in price”
The extreme rise began long before Putin’s invasion of Ukraine, now Americans should expect average prices of $ 5 or more per gallon, in California the average could reach 7
The rise in prices in the pump area of the gas stations comes as tens of thousands of Americans set off over the past weekend to have some fun with family and friends after two years of uncertainty in dealing with the Corona virus.
The Daily Mail reports that experts predict that U.S. fuel prices will average above $ 6 by the end of the summer – as pump costs in West Coast cities, such as Los Angeles and San Francisco, have already reached that threshold earlier this month.
Last week, the price of a gallon in each of the 50 countries rose beyond the $ 4 mark per gallon, affecting the travel plans of many.
By the July 4 holiday, more countries could see average prices of about $ 5 per gallon, analysts say, pointing to inflation hitting the entire economy under President Joe Biden. “I think a significant portion will stay close to home,” Patrick de Haan, head of the oil department at GasBuddy, told CNBC. “People definitely need to feel a bulge, but my impression is that people are not traveling far. The concern is high prices. And there is also a strong subgroup of people who can actually work off the road all the time.”
Across the U.S., prices are changing at a rapid pace with an average of 6.07 per gallon in California and $ 4.13 per gallon in Georgia.
Because high prices are affecting consumers, analysts say people will not fill their vehicles frequently, and that reduced demand could act to curb the rate of further price increases.
Since President Biden took office, fuel prices in America have skyrocketed by at least 100%.
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