While it’s likely that you haven’t been filling up your vehicle’s gas tank as often as you did during pre-pandemic times, there’s a decent chance the billboard outside your local gas station caught your eye the last time you passed it. Specifically, you may have been surprised to see the price that gas is going for these days, as it’s noticeably higher than it has been at other parts of the pandemic. According to AAA, the current average price for a gallon of gas clocks in at $2.40, and there’s some conversation that this price per gallon will rise to around $3 by summer.
What’s the reason behind this increase in gas prices? Hope.
While you may be grimacing at the price of gasoline now and the thought of paying $3 a gallon by this summer, the price increase is actually good news — according to economists. Keep in mind that during the early days of the pandemic last April, you could find gas for less than $1 per gallon in 13 states – a sign that demand was very low.
So, why you might ask, is gas on the upswing – especially since we’re arguably in the darkest days of the pandemic with so many businesses still closed and so many people still working from home? We’ve told you before that while the stock market has largely recovered from its major losses last March, it seems to ebb and flow based on COVID-19 vaccine news. And noting this, it shouldn’t surprise you to learn that crude oil futures are ticking up with positive vaccine news and increased distribution.
There’s the hope that the dark days of the pandemic are numbered and that activity will begin resuming to normal as the vaccine rollout progresses. By summer, there’s hope that demand for gasoline will be strong again as Americans head back to the office, hit the road for vacations and business travel, and attend sporting and other entertainment events.
In other words, if traders are market analysts thought that the global economy wasn’t going to soon improve and recover, crude oil prices likely would not be increasing. And this increase is only likely to continue its ascent in the months ahead.
There’s no question that these past 11 months or so have been hard on everyone, but if there have been even small slivers of positives to come out of things it’s that the economic environment has lent itself to much cheaper gas prices. The fact that these prices are rising again shouldn’t be tough for anyone to stomach. It’s simply a sign that there’s renewed hope and optimism that the pandemic’s end is within sight and that life as we know it is closer to getting back to the way we all want it to.
OBIDENS new policies, the killing of KESTONE, Parris accord, are all foolish endevers, that kill american jobs. Summer gas is cheaper…not more. This wingnut president is helping the gop take back the house & senate in 2 years
Keystone and it is not Parris, France but Paris, France and people say I am uneducated because all I ever achieved in regards to academics is a mere GED.
1 always needs to keep in mind all Progressives are seriously psychotic hypocritical and self righteous individuals and they will use any reason to criticize true patriots especially poor English comprehension and grammar the latter being not only using the correct spelling of words, the correct words, but sentence structure and punctuation as well.
And he is doing an incredible job!! AOC makes him look like a genius.
HORSE PUCKY!!!!
I LIKE THE NEW POST FOR TALKING ABOUT BIDEN—-OBIDEN IS THE BEST NEW NAME FOR HIM!!!
You are a damn fool if you voluntarily get injected with Bill and Melinda Gates and Anthony Fauci R&D of the Covid-19 funded poisons all established Genocidal maniacs people have already died due to being vaccinated and who knows how long it will take for the adverse side effects of those poisons to kick in, if you call that hope then you are completely delusional.
My bad, it is a damned fool and not damn fool, I thought it did not seem to be the correct term when I ran it through my head.
Demand for gas will of course go up if more people are going to travel. However, the problem is Biden/Harris destroying the petroleum industry. No Keystone Pipeline, no drilling on federal lands already, higher taxes and regulations requiring electric cars coming.
I want to know if the Democrats are going to pay for them for American’s, because as I see the way the government going we the people won’t have any money to buy them because everyone won’t have a job. Unless China allows us to a low low paying like all blue collars their are doing, even Democrats will be in the same boat. Only higher uppers will have that as well as millionaires will be able to have a car !!!!
Biden is not running the show- he is senile and this is the Socialist agenda that most Democrats do not want. Higher gas prices hurts the poor and middle class most. It drives up all prices and will be terrible for most of us- just not for the rich elites! Just wait until they go to $9 like. Europe!!
Just how stupid are u ?
Gas prices climb because of biden’s artificial shortage because of policy changes that continue to hurt American citizens. We exported gas under Trump and had low gas prices, now we will have to import gas because this administration is creating a shortage with his screwed up policies. We have more oil reserves in this country than any country in the world and we dam well should use it….hundreds of years supply. If we don’t and the democrats save it for our enemies, they will use it !!!!