Gas Prices Catastrophe
How will Biden fix this? Sadly, he looks like he won’t.
In more negative economic news thanks to President Biden, Gasoline prices across the America have now surged to the highest level in eight years.
This time the spike is being blamed on the Russia-Ukraine tensions which have steadily continued to escalate.
According to CBS, the average cost for a gallon of gas in America is now $3.47. This is a jump of eight cents compared to last week.
In data gathered by the U.S. Energy Department, gas prices haven’t been this high since October 2014.
Tom Kloza, global head of energy analysis for the Oil Price Information Service, explained, “This has not been demand-driven, but it has been supply-driven, and recently we’ve seen crude oil prices move on the basis of geopolitics. A lot of what-if scenarios: what if Russia does invade Ukraine and we have sanctions?”
