Will gas prices continue to rise?

Will gas prices continue to rise?

Gas and diesel prices have now broken the record in the United States this week.  The average price in America is $4.25 per gallon.  In Myrtle beach it is right around $3.99 and $4.07.  In Thomasville, NC the gas prices are at least $4.15. The gas prices are expected to continue to rise throughout the rest of the year. 

“As of Wednesday morning, the average cost for a gallon of gas in the country was $4.25, according to AAA. The price is up about 8 cents from Tuesday and more than 60 cents from last week.  Costs are expected to continue to rise throughout the year”, says USA Today.

The gas prices will continue to rise because we get our crude oil from Russia.  Biden stopped Russia from importing us goods because of them starting war with Ukraine.  Because there is a lot less of the supply, it is more scarce so it’s more expensive.  

Sanctions put on Russia by the U.S. and European Union severely hindered Russia’s ability to sell crude oil, one of the biggest determiners for gas prices. Because the country is one of the biggest energy suppliers, crude oil prices have dramatically risen”, says USA Today.