Gas prices rising across the nation
One of the thousands of gas stations across the nation, all of which having to conform to the global oil price surge.
Millions of drivers nationwide are currently experiencing a gas price spike resulting in many drivers wondering when gasoline prices will stabilize. The price of crude oil is progressively becoming more expensive as the supply of oil shrinks which is considered the primary cause of the dollar increase for gas.
In the state of Florida, gas prices have averaged to three dollars, while the average price last year was just two dollars. This isn’t the first time the country has experienced a gas spike.
“Crude oil prices settled-in at a new record of $147 per barrel,” a 2008 timeline says. “The U.S. average price for regular gasoline climbs to an all-time high of $4.11 per gallon.”
Whether or not the current increase will reach the numbers the 2008 spike did is unknown. However, we do know that the price was influenced by multiple factors, one of them being demand of crude oil. Presently, crude oil has a 40% annual change from last year, which amounts to 28 dollars more per barrel.
“It’s not the first time prices have climbed so high,” Gregory Finkel, the WRHS Driver Education Instructor said. “The prices are influenced by so many factors. Whatever the reason is, it doesn’t warrant the high prices we are paying now and have paid in the past.”
The cost of gas is always changing and may progressively rise or decrease depending on a variety of factors. One of them could be that many regions are now reopening their borders to allow travelers and tourists to visit, meaning an increase in gas demand.
“AAA predicts 53.4 million people to travel for the Thanksgiving holiday,” AAA Public Relations Manager Ellen Edmonds said. “The highest single year since 2005.”
Thankfully, crude oil prices are slowly decreasing and national gasoline prices are expected to fall with it. Before long, national gas costs should return to normal and stabilize assuming no other external factors influence the oil industry. Until then, drivers should take into account the state of gas price and only use as much fuel as necessary when visiting the pump.
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Jack is a freshmen at Wiregrass Ranch and this is his first year writing for The Stampede. Jack has a few hobbies including cooking, golf, chess, and gaming....
