American motorists are being treated to a reminder of what Bidenflation means to them. Prices for gasoline have jumped a surprising amount in the last month. Andrew Gross, a spokesman for AAA, told the Associated Press, “Usually it takes a hurricane to move prices that much.” The AP’s Wyatte Gratham-Philips reports:
Drivers are in for another headache at the pump as U.S. gas prices continue to rise.
The national average for gas prices stood at about $3.78 a gallon on Tuesday — about 25 cents higher than that seen one month ago, according to motor club AAA. While today’s prices at the pump remain far lower than they were last year, when energy costs soared worldwide in the months following Russia’s invasion of Ukraine, experts say such a jump is unusual.
“Usually it takes a hurricane to move prices that much,” said AAA spokesperson Andrew Gross, who said the rise is especially interesting as “fewer people are are fueling up” their cars this summer compared to years past.
In the U.S., gasoline prices are highly dependent on crude oil. West Texas Intermediate crude, the U.S. benchmark, has stayed above $80 per barrel since Thursday, standing at over $81 as of Tuesday afternoon. That marks a $12 jump since July 3, according to OPIS global head of energy analysis Tom Kloza.
Action Line: Americans have suffered under heavy inflation in energy prices during the Biden administration. Those on fixed incomes are hurting the worst as they divert funds to energy they had been spending elsewhere. You are responsible for your family’s survival. Click here to subscribe to my free monthly Survive & Thrive letter, and become a Survivor.
