The Sudden Rise of Gas Prices

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Matt Rourke

Has the rise of gas prices affected you?

Mayra Perez, Club Member

The pandemic has finally cooled down and quarantine is no longer required, leading many to go back to their normal routines.

Unfortunately, our economy struggles to emerge and consumers and businesses go through the obstacle of shortages, which adds to the many other challenges our country has to face, the sudden rise of gas and oil prices being one of them.

Now that our economy has opened up, the energy demand is back. However, the supply can’t keep up, causing prices to be higher than ever before. In the US, it now averages about $3.41 per gallon. 

Compared to last year, before the pandemic, the average was $2.18. This comparison shows that the average today is the highest it has ever been. 

The accessibility of oil supply takes a major role in these skyrocketing prices. Once the pandemic hit, the need for global energy had plummeted, which caused organizations to cut the production of oil to prevent prices from subsiding.

Now that the economy is recommencing, oil production can’t keep up. 

This is a major disadvantage to drivers and consumers as they have to pay more than ever before. On the other hand, it’s great news for oil companies and workers as a great amount of money comes their way.

Overall, many have concerns as the prices seem to be going higher as the days go by. The middle and working-class citizens have less efficient cars, leading them to spend more on fuel as they are on the road.

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