Commentary: OMG, Gas Prices Are Rising Like Crazy!
Angry motorists have expressed some political statements wishing for an impeachment of the current President and restoration of the previous one.
Yes, I know…gas prices are up!
Pump prices are rising above levels last seen in George W. Bush’s administration. In Minnesota, some gas stations have reached $4.00 a gallon for unleaded fuel. Reports state that the national average for unlimited fuel is at $4.17 a gallon. Premium fuel is reaching towards $5.00 a gallon.
There are places where unleaded fuel is closing in on $7.00 a gallon. California, for example.
This is not to make light of the rise in fuel pump prices. Yes, some have put blame squarely on the Biden Administration for the rise in fuel costs. The pattern of rising pump prices has been tied to the 2021 inauguration. Angry motorists have expressed some political statements wishing for an impeachment of the current President and restoration of the previous one.
What has not helped this rise in fuel pump prices has been the Russian invasion of Ukraine. As we recently learned, we have been getting a chunk of our fuel not from the Persian Gulf region – but from Russia and the Central Asia.
Surprised? Probably you were surprised some decades ago when you discovered that some of your gasoline came from Venezuela.
This is a level of geopolitics that has kept North Americans at bay for so long. Several wars and military skirmishes over protecting the supply of oil for our vehicles has been fodder for both those who defend these actions or disagree with them.
The reality is a compound of an economy thrown on its side during the COVID-19 pandemic. Not to mention the resulting actions by countries across the globe stirring the pot with extra ingredients that made your pocketbook thinner than it was before March of 2020.
In all, inflation has taken hold on the global economy because of a domino effect that ended jobs, closed businesses, and bottomed out certain industries. Add global supply chain challenges that halted assembly lines and interrupted the flow of goods to consumers.
Still, our appetite for crude oil continues at a staggering pace.
Whose fault is that? I’ll leave that to you for an answer.
Meanwhile, are we rushing to get electric vehicles? If you can find out that has not been reserved and/or sold, you may feel less guilty for not paying over $4.00 a gallon for unleaded fuel.
You can always go back to public transportation. That is, if you can find it. Because everyone began working from home, you did not need to take the long commute to your office via car or transit. Your commuter line was either cut back or eliminated, thanks to lower demand. Oh, and you still have to wear a mask when you board a bus or train – that is until March 18. That could change, as well.
You have choices. What’s your choice?
Think about all of this before you do some knee-jerk post on social media. Chicken Little is not crowing loud enough for you to add to the chorus.
All photos by Randy Stern