Gas/Oil price increases mean’s higher costs for me driving around….
Means higher prices for food which travel’s by truck…
Means high prices for flight’s because fuel…
Means trouble for President Biden who is trying to hold out against sanctioning the Russina oil…..
Congress wants the sanction…
The higher prices will be blamed on the President not Congress….
Average gas prices in the U.S. have hit their highest point in over a decade, reaching a nationwide average of $4 per gallon as of Sunday.
According to AAA’s national average gas price monitor, the average price for regular gasoline in the U.S. is now $4.009 per gallon, with states like California, Illinois, New York, Pennsylvania and Hawaii seeing the highest prices, hovering between $4.18 and $5.29.
Data from the U.S. Energy Information Administration (EIA) shows that the average price per gallon for regular gasoline in the U.S. hasn’t reached $4 since June 2008, though it came close a few times in 2011 and 2012.
In California, average gas prices are the highest they have ever been, reaching $5.07, as KTVU reported.
According to a forecast from the Boston-based tech company GasBuddy, gas prices could rise up to $4.35 per gallon by May.
These rising gas prices come amid concerns over how a potential ban on Russian oil imports could further increase prices in the U.S. Though the White House has issued a series of harsh sanctions against Russia, it has so far allowed Russian energy imports to continue…..
Americans and most of the world have been united in condemning Russia for invading Ukraine.
Wheat prices soared closer to record levels as Russia’s intensifying war in Ukraine cuts off supplies from one of the world’s leading breadbaskets, and is set to prevent planting of crops this year, dealing what is almost certainly an unprecedented supply shock to global consumers.
Futures in Chicago jumped by the daily limit for the sixth straight session, rising 7% to $12.94 a bushel, and building on a massive surge of 41% last week, the most in records going back more than six decades. Commodities from energy to metals and crops have surged since Russia’s invasion, fueling inflationary pressure worldwide and posing new challenges for monetary policy….