Experts Say $5/Gallon Gas Is Coming

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The national average price of gas now sits at $3.781 a gallon, which is up 20 cents from just a week ago, reports Patrick De Haan, who’s in charge of petroleum analysis at GasBuddy.

This is also up about a dollar over a year ago.

This continued increase comes after Democrats jumped at the opportunity to thank Joe Biden for a two-cent drop in gas prices back in December.

But things are likely to get worse before they get better. On Thursday, San Francisco became the first U.S. city to break an average gas price of over $5/gallon, and more are expected to follow.

“Oil prices surged another $7 per barrel on Wednesday after an agreement by the U.S. and other major governments to release 60 million barrels from their national reserves — half of them U.S. barrels — failed to quell supply concerns over Russia’s attack on Ukraine,” CBS News reports. “Oil prices spiked again on Thursday following a new round of U.S. sanctions targeting Russia’s oil-refinery sector. The price of Brent crude oil, the international benchmark, rose to nearly $120 a barrel — its highest level in 10 years — before dropping back down to $112.75 a barrel, Reuters reported.”

Gas prices were already high (thanks Biden) before Russia invaded Ukraine (again, thanks Biden) and now we’re all going to get squeezed even more.

But, hey… no mean tweets, right?


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