Biden's Gas Crisis: Welcome Back To The 1970's - This Is How Bad It Really Is

Written By BlabberBuzz | Tuesday, 26 October 2021 03:45 PM
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Biden's Gas Crisis: Welcome Back To The 1970's - This Is How Bad It Really Is

The average U.S. price of regular-grade gasoline spiked 13 cents over the past two weeks, to $3.44 per gallon.

The price at the pump is $1.22 higher than a year ago.

Industry analyst Trilby Lundberg of the Lundberg Survey announced that the rise comes as the cost of crude oil surges.

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The highest average price for regular-grade gas is in the San Francisco Bay Area, at $4.65 per gallon. The lowest average is in Houston, at $2.91 per gallon.

According to the poll, the average price of diesel surged 14 cents to $3.59 a gallon.

In Saint Luis Obispo County, the average gas price is resting at $4.73 a gallon for regular unleaded, that's up from $4.59 only a month ago and over a dollar more than this time last year.

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It's a similar picture in Santa Barbara county with regular gas at $4.48 a gallon, 13 cents higher than last month.

Drivers explain they are left with no alternative.

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"No, I'm not going to stop driving my car," said Rob Dwyer, a California native. "I don't pay much attention to the gas prices," he stated.

The hike in prices can be attributed to an increase in oil prices and a lack of products.

Prices are at a seven-year high, and specialists predict things will worsen before they get better.

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"You don't have a choice. It’s just part of it," announced Marinette Evangelista, another customer at the pump.

If you can see that things are bad locally, the sticker shock from a town not far from here will make your jaw drop.

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In Gorda, an hour and a half north of San Luis Obispo, the regular unleaded has gotten to $7.50 a gallon.

The average price of a gallon of self-serve regular gasoline in San Diego County also rose three-tenths of a cent Sunday to $4.502, one day after increasing eight-tenths of a cent.

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The average price has risen 16 consecutive days and 21 of the past 22. It has risen 14.6 cents over the past 22 days to its highest amount since Oct. 19, 2012, according to sources from the AAA and Oil Price Information Service.

The average price is 6.6 cents more than one week ago, 15.8 cents higher than one month ago, and $1.332 greater than one year ago.

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High crude oil prices are causing the rising gas prices. The price of a barrel of West Texas Intermediate crude for November delivery on the New York Mercantile Exchange has risen six of the past seven trading sessions, including increasing $1.26 Friday to settle at $83.76, its second-highest settlement price of the year, behind only Wednesday's $83.87 settlement price.

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