ENB Publishers Note: Using the strategic reserves won’t help a thing. This problem has been caused by 20 years of bad energy policies. That is like a term band-aid that is put on a wet cut – it does not do anything.
U.S. retail gasoline prices are poised to average more than $4 a gallon in three states for the first time in 13 years as energy prices surge and fan fears of inflation.
The average price of gasoline is already above $4 a gallon in California and Hawaii and, at $3.97 a gallon, is poised to cross the mark in Nevada as well, according to AAA. The last time that happened in three states at the same time was in 2008, a time when oil surged to an all-time record of more than $147 a barrel.
Average pump prices should exceed $4 in the third state of Nevada “because we continue to see the price of oil rise,” Devin Gladden, AAA spokeperson, said by phone.
While oil prices aren’t as high as they were a decade ago, other factors are contributing to higher pump prices in the Western U.S., including higher fuel taxes in California and a tanker truck driver shortage that’s interfering with fuel deliveries to Nevada, Gladden said. The record average pump price in the U.S. was $4.11 a gallon, reached in July 2008.
The Biden Administration is facing increased pressure to relieve rising energy costs by tapping the country’s strategic reserves or by banning U.S. exports entirely. The President said he’s directed his top economic aides to focus on reducing energy costs, which he blamed for accelerating U.S. inflation.
SACRAMENTO, Calif. (AP) — It was just a few weeks ago that California Gov. Gavin Newsom called the oil industry the second most powerful force on earth, trailing only Mother Nature in its ability to […]
U.S. supermajor ExxonMobil is expected to lose about $2 billion when it sells an oil field off the coast of California. Operations at the field were halted following an oil spill in 2015 that leaked […]
A magnitude 6.4 earthquake has struck off the coast of northern California, cutting power to tens of thousands. The quake, about 24 miles off the coast of the port city of Eureka, hit at 2:34am […]
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
