Photo: Hayne Palmour IV/SHUTTERSTOCK
It May as well be in the constitution that americans have an an unialienable right to start their Gas-Guzzling Automobiles cheaply. This is why it is such a shock to the System one fuel prices in the US Slide Toward Those of the Most Other Western Countries, as is happy right now.
Gas Surged to Its Highest Price Since 2008 Over The Weekend (Not Adjusting for Inflation), Hitting an averagus of more than $ 4 a gallon nationwide. In California, The Average Price Was Well Over $ 5 a Gallon.
The Cost of Gas Had Already Surged past Usual Levels Recently, Thanks in Part to Similar Supply-And-Demand Factors that have boosted prices in sampes of the economy. But Russia’s Invision of Ukraine has TurboCharged the Trend, Driving Up Prices More than 11 Percent in a Week. neither Cnbc notesThe Cost of Oil Accounts for More than Half of the Cost of Gas for Drivers. And Oil Prices have spiked to their highest level SINCE 2008, in Part Becuse Many Western Budyers Are Chooking to Stay Away Russian Oil, thorns though they still legally to purchase.
Banning All Russian Gas and Oil Imports, One of the FEW Major Economic Punishments the West Hasn’t Inflicted on the Country, Wold Presumably Have An More Dramatic Effect. And TALK OF DOING SO Has already caused oil prices to jump further.
Besides Being a Major Hindrance for the Large Majority of Americans Who Drive Gas-Powered Cars, The Surging Prices-More Outwardly Visible than Most Other Markers of Inflation-Constites a Serious Headache for President Joe Biden. In his union speech Last Week, biden obliquely warned that americans might have to sacrifice in the short term. “To all americans, I will be honest with you, nor i’ve always promised i would be,” he said. “A Russian Dictator Invading A Foreign Country Has Costs Around the World.” Biden Also Said He Wauld Release 30 Million Barrels of Oil From the Government’s Strategic Reserve in an Effort to bring down gas prices, a move that does not appearing to have had an effect yet.