Welcome to Biden’s America, where your worst nightmare happens and failure seems inevitable.
The ongoing pain at the pump for Americans is getting even more brutal Sunday— as gas prices reached a new record high.
This week, Diesel fuel prices keep breaking records but no one is celebrating except the retailers? Maybe…
The cost of petrol and diesel has hit new record highs, just a day after retailers were accused of exploiting drivers to extend their profits.
The national average price for regular gasoline climbed more than four cents on Tuesday to $4.61 a gallon, climbing more than 25 cents in six weeks, AAA reported.
Millions of Americans are poised to travel by road for Memorial Day weekend, but the gas price hike is not showing to stop anytime soon.
The number is more than 50% higher than the average cost per gallon a year ago. All thanks to Joe’s inept leadership…
Here’s what the Gateway Pundit reported:
This week’s surge will only add to inflationary pressures that have boosted fears of a national recession, hammered financial markets, and caused Americans’ views on the economy to become fearful.
Gas prices had dropped as low as $4.07 a gallon in April after President Biden ordered the release of oil from emergency reserves and as oil prices cooled off. However, as some industry analysts predicted, that relief proved to be short-lived.
According to the U.S. Energy Information Administration, gas prices, adjusted for inflation, would have to rise above $5.30 a gallon to break the records set in 2008.
Experts say that number will likely surpass the $6 mark by the summer as costs in cities such as Los Angeles and San Francisco already met that mark earlier this month.
Diesel prices are up as well. Prices at the pump have soared a whopping 75% from Memorial Day last year. Current prices rest at around $5.50 a gallon, a record price for the fuel.
According to AAA, the national average of diesel fuel in the U.S. surpassed $5.56 a gallon this month, the highest level ever recorded.
CNN added more details:
Real (that is, inflation-adjusted) gas prices haven’t been this high heading into Memorial Day weekend since 2012, according to the US Energy Information Administration. The all-time high for average inflation-adjusted gas prices was set in June 2008 at $5.38 a gallon.Soaring gas prices reflect strong demand as people ramp up their summer travel plans and sluggish supply caused by a confluence of factors, including disruptions caused by the war in Ukraine and the fact that both the United States and OPEC are pumping less oil than before Covid-19.Another factor: After a series of retirements, US refineries are having trouble keeping up with surging demand for gasoline, diesel and jet fuel.
Sources: Thegatewaypundit, AAA, CNN
