Gas prices on the rise

Gasoline+prices+continue+to+rise+throughout+the+United+States+as+well+as+globally.+

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Gasoline prices continue to rise throughout the United States as well as globally.

Jamie Adams, Staff Writer

Gasoline prices have recently hit their highest level in two years. The worst part is, the prices are only going to keep increasing.

During the first few months of COVID-19 hitting, everyone remained inside of their houses, thus the demand for gas was low. This resulted in gasoline prices to fall tremendously as there was a high supply, but clearly a low demand. According to the U.S. Energy Information Administration, “Last April, the national average for all grades fell below $2 a gallon for the first time in over four years.”

Recently, gasoline prices have been steadily increasing, leaving Americans concerned and confused as to why.

Auto Club AAA recently stated, “Gas prices are up more than 25 cents a gallon nationwide to an average of $2.68 for regular.”  This increase is expected to continue for the next few months and may go on all the way up until summer.

There are many reasons for the sudden increase, one of which being that the crude oil prices are surging. According to World Oil, “Oil surged to the highest in nearly two years after the OPEC+ alliance surprised traders with its decision to keep output unchanged, signaling a tighter crude market in the months ahead.” This means that OPEC+ is not producing enough oil fast enough, causing prices to rise. The Goldman Sachs stated that this month oil was $60 a barrel and expects by summer for it to increase to $72 per barrel.

Another reason for the increase in gasoline, is the COVID-19 vaccine. With individuals receiving the vaccine and feeling more safe in the pandemic, traveling has started increasing. This causes for a higher demand of gas, raising the prices.

According to GasBuddy, a tech company designed to help individuals find the cheapest gas near them, “The foundation of the rise in oil prices is the fact that the coronavirus situation continues to improve, pushing global oil demand higher as production continues to lag, pushing U.S. gas prices higher.”

With summer approaching shortly and Americans hoping for the prices to decrease, gas is expected to do just the opposite. AAA states that Americans might find themselves spending close to $3 a gallon after Memorial Day. This is due to the federal regulations requiring the use of “Summer Grade Gasoline.” This type of gas is more expensive to develop as well as to make. The reasoning behind using a different kind of gasoline in the winter than in the summer is because of the weather. With higher temperatures comes more evaporation, so the summer gasoline is made differently to help prevent it.

With the gas prices on a steady increase, it is not possible to tell how long this trend will remain to go up for, or if gas prices will ever go back down.

Anna Rosenberg, a senior at Stephen Decatur has been driving since last March, she comments on the gas price increase stating, “I remember this time last year it was only 40$ to fill up my tank, now it is almost 50$ which is only a 10$ increase so far, but if this upward trend continues I could be paying much more just for a full tank.”

American drivers concerns and questions remain unanswered and leave some worried as such a small increase can have a much rather large affect.