Everything is a mess!
Just when Americans thought they were going to catch a break at the gas pump it appears that gas prices will surge yet again as traders weighed the possibility of new sanctions Biden could put on Russia for invading Ukraine.
According to Yahoo, President Biden recently held a private phone call with Russian President Vladimir Putin where little details of the phone call were shared with the public. President Biden was expected to have warned Russia not to act against Ukraine or the nation would face serious consequences such as economic sanctions and more.
These problems have only exasperated concerns over the Russian gas supplies to the continent which is already behind schedule. This issue will push gas prices even higher.
Furthermore, While gas prices have come back down recently from record highs in October, analysts and traders believe futures are to remain high through the winter as the continent’s gas reserves are the lowest in the last 10 years.