Gas Prices Set to Surge Again, Industry Analysis Shows

The price of gasoline is set to increase to $4 per gallon or more within five months, according to an industry analysis released Tuesday.

The gas price surge is forecasted to take place by Memorial Day in late May, according to the report from GasBuddy, an app that tracks pump prices, and shared with CNN. But the analysis said the average cost of gasoline at pumps nationwide would then fall throughout the summer and fall of 2022, declining below current prices.

“We could see a national average that flirts with, or in a worst-case scenario, potentially exceeds $4 a gallon,” Patrick De Haan, the director of petroleum analysis at GasBuddy, told CNN.

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Commentary: The Twin Pillars of Biden’s Failure

Everything has gone so terribly wrong for the Biden Administration, and in the ways that were widely predicted, that it is hard to believe Joe Biden could be perceived as a successful or at least potentially successful president if only he had avoided being such a tool of the Democratic extreme Left. On the afternoon of his inauguration, he killed the Keystone XL Pipeline and curtailed fracking and offshore oil and gas exploration, and ordered the end of construction of the southern border wall. The consequences have been over 200,000 illegal migrants entering the United States across the southern border most months and the rise in the price of gasoline from approximately $2 a gallon to $5 a gallon across the country.         

As practically everyone outside his immediate entourage saw and predicted, these were disastrous errors. The excuse regularly given in the case of the wall was that Biden had inherited a “broken” immigration policy. In support of this outrageous falsehood, all that could be offered was the tear-jerking fabrication about children being separated from their parents and confined to cages that reminded that eminent authority on modern European history, Speaker Nancy Pelosi, of “Auschwitz.” 

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More Americans Than Ever Say They Won’t Be Buying Christmas Gifts This Year

A record number of Americans say they won’t be purchasing gifts for the holidays this year amid ongoing inflation concerns and supply chain disruptions, a survey shows.

Roughly 11% of Americans said they expected to spend no money at all on gifts during the holiday season, according to a holiday retail survey by Deloitte. The number is the highest since Deloitte began its holiday retail survey in the 1980s and more than double the share of shoppers in 2020 who said they wouldn’t be buying presents.

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Energy Secretary Granholm Says Biden Is ‘All Over’ Gas Prices, But Can’t List Any Policies to Lower Prices

Secretary of Energy Jennifer Granholm said President Joe Biden is “all over” rising gasoline prices but failed to name a single administration policy aimed at lowering energy costs.

“The president is all over this,” Granholm said during a CNN interview Monday. “He really is very concerned about, you know, inflation, obviously, and the price of gasoline because that’s the most obvious manifestation of it. As you know, no president controls the price of gas, oil is sold on a global market.”

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Oil Supply Losses from Hurricane Ida Reach 30 Million Barrels, Impacting Gas Prices

Hurricane Ida has already caused oil supply losses of 30 million barrels, the International Energy Agency (IEA) reports, resulting in the first decline in global oil supply in five months.

Hurricane Ida shut in 1.7 million barrels per day of oil production in the Gulf at the end of August, “with potential supply losses from the storm approaching 30 mb. An uptrend in supply should resume in October as OPEC+ continues to unwind cuts, outages are resolved and as other producers increase,” the agency stated in its September Oil Market report.

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‘Pathetic’: U.S. Energy Supporters Blast Biden Administration’s OPEC Request

With gasoline prices up more than $1 a gallon over the past year, the Biden administration took heat Wednesday over a statement from National Security Advisor Jake Sullivan pressuring OPEC nations to increase oil production.

“Higher gasoline costs, if left unchecked, risk harming the ongoing global recovery. The price of crude oil has been higher than it was at the end of 2019, before the onset of the pandemic,” Sullivan said. “While OPEC+ recently agreed to production increases, these increases will not fully offset previous production cuts that OPEC+ imposed during the pandemic until well into 2022. At a critical moment in the global recovery, this is simply not enough.”

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Commentary: Democrats Brace for Inflation Attacks During August Recess

Iowa Rep. Cindy Axne, one of the most vulnerable Democratic incumbents heading toward the 2022 midterm elections, spent an early July afternoon talking to constituents’ from the cool environs of an ice cream shop in her district when the discussion suddenly heated up.

“I just wanted to ask, are you concerned about the rising gas prices and the rise in the cost of consumer goods here in Iowa and in America?” one constituent asked.

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Gas Prices Spike as Ohio Legislature Approves Gas Tax Hike

The American Automobile Association (AAA) announced Monday that only three months into 2019, the nation’s average gas price has spiked by almost 45 cents. Ohio prices increased as well, but by slightly less than the national average. While Ohioans may be relieved, experts are predicting that these price increases are expected…

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