Fuel Prices Are About to SKYROCKET. Here Are the REAL Reasons Why. by Robert Wheeler for The Organic Prepper
After a brief break in high fuel prices, those prices are now rising with a vengeance. Fuel prices are up more than 25 cents a gallon nationwide in the last month alone and are now at an average of $2.68 a gallon for regular. It’s only going to get worse.
Fuel prices are spiking…or will soon.
Fuel prices are expected to spike in the coming weeks and even more this summer.
Several mainstream articles warn of the coming rise in fuel prices. All of these articles provide various reasons why the prices are rising. For example, some articles report the increase in prices is “just the market.” Others say it’s COVID. None of these reports say it’s the oil companies, the Great Reset, or Wall Street.
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In other words: Go back to sleep, America, and pay through the nose when you wake up. And don’t you dare complain about it.
The rise in fuel prices is nothing new. Being told to dismiss it and go on as usual is also nothing new. This article tells you why gas prices skyrocketed in 2018 as well as a look at rising prices back in 1973.
Why are prices rising this time?
YAHOO offers several different reasons for the rise in prices.
COVID: Long before the storms, the oil and gas industry was reeling from plummeting fuel sales caused by COVID. By late 2020 there were more than a dozen refinery closures that reduced U.S. production by more than 1 billion barrels per day.
U.S. oil and gas producers lost tens of thousands of jobs last year, and laid-off workers were left scrambling to make ends meet.
COVID VACCINES: “As more Americans are vaccinated, and life begins to return to something closer to normal, people are likely to drive and fly more. And that trend will contribute to rising fuel costs.”
SUMMER: American drivers could find themselves spending close to $3 a gallon for gasoline, on average, by Memorial Day, according to both AAA and GasBuddy.
Those forecasts factor in the switch to pricier summertime blends of gasoline, expected to begin rolling out in March. Higher-grade gasoline is used in summer months to reduce emissions that cause smog; those blends can cost up to 15 cents more per gallon, according to the service station trade group NACS.
WINTER: The recent brutal winter weather in Texas has seriously impacted the state’s oil production, forcing refineries to close in America’s top crude-producing state.
Eleven refineries in Texas were shut down at least partially due to the extreme winter temperatures, taking as much as 20% of the country’s total refining capacity offline, says the price-tracking website GasBuddy.
STIMULUS CHECKS: Congress is working on giving Americans another $1.9 trillion in COVID relief, including a third round of stimulus checks. The aid is expected to help lift gas prices as consumer spending gets a shot in the arm.
Yes, all of those factors play a part in the overall market and thus on oil prices. So does the Biden Administration’s cancellation of Keystone XL and the halt of approval of new drilling permits on federal land and some on private land. In America, there simply will be less oil produced, which will affect oil prices.
It is also important to remember that OPEC has slashed oil production, reducing the amount of oil on the market and driving up prices.
