www.bloomberg.com
I need to stop reading the news. Now the Fed is signaling a global recession coming that we won't come out of for coming years...
Add more fuel to the fire
Stagflation Danger Sees World Bank Cut Global Growth Outlook
The international financial authority said it expects “essentially no rebound” next year, projecting only 3% growth for the world in 2023. This comes as a direct signal for an impending global recession.
- Pain of high inflation, slow growth could persist for years
- Lender reduces 2022 economic growth forecast to 2.9%
Stagflation Danger Sees World Bank Cut Global Growth Outlook
The World Bank cut its forecast for global economic expansion in 2022 further, warning that several years of above-average inflation and below-average growth lie ahead with potentially destabilizing consequences for low- and middle-income economies.
Why gas prices are near $5 a gallon and how high they'll go
Another day, another record for US gas prices.www.cnn.com
The national average for gasoline could be close to $6 by later this summer according to Tom Kloza, global head of energy analysis for the OPIS, which tracks gas prices for AAA.
"Anything goes from June 20 to Labor Day," Kloza said about the demand for gas as people hit the road for long-anticipated getaways. "Come hell or high gas prices, people are going to take vacations.
www.gasbuddy.com
NATIONAL AVERAGE PRICE OF GAS SPIKES TO $5/GAL, CRUSHING PREVIOUS RECORD
By GasBuddy | June 9, 2022
Average gas prices are up 66c/gal in the last month as gasoline supply tightens
The national average price of gas in the U.S. surpassed $5 per gallon today for the first time ever, according to GasBuddy, the leading fuel savings platform saving North American drivers the most money on fuel. This long-anticipated milestone comes behind months of gas price increases across the country, accelerated by the rise in seasonal demand amidst supply constraints borne out of the pandemic.
Gas prices have surged in recent weeks as U.S. gasoline inventories have fallen over 25 million barrels, or over one billion gallons, since the start of March amidst a global decline in refining capacity due to the Covid-19 pandemic and accelerated demand going into the summer. The price of oil has also jumped due to escalations stemming from the Russian war on Ukraine, as countries choke off Russian oil supply via sanctions, pushing supply down at a time of rising demand. In addition, U.S. refining capacity has fallen by some 1 million barrels per day over the last three years. All of these factors have created an environment ripe for a surge in gas prices, while Americans balk at prices but continue filling up as demand has seen little decline.
Gas price records set in 2022:
March 5: National average price of gas breaks $4/gal for the first time since 2008
March 7: National average price of gas breaks previous record; $4.10/gal
March 10: Average price of gasoline peaks at $4.35/gal
April 29: Average diesel prices reach new all-time high; $5.16/gal
May 5: March record broken; prices rise above $4.35/gal
“It’s been one kink after another this year, and worst of all, demand doesn’t seem to be responding to the surge in gas prices, meaning there is a high probability that prices could go even higher in the weeks ahead,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “It’s a perfect storm of factors all aligning to create a rare environment of rapid price hikes. The situation could become even worse should there be any unexpected issues at the nation’s refineries or a major hurricane that impacts oil production or refineries this summer.”
In order to save money on summer travel, GasBuddy recommends drivers shop around for the best gas prices, and always pay with a gas card or gas rewards credit card. Drivers should also take advantage of gas station loyalty programs, and drive more cautiously in order to increase fuel efficiency.
National Average Price of Gas Spikes to $5/gal, Crushing Previous Record
Average gas prices are up 66c/gal in the last month as gasoline supply tightens The national average price of gas in the U.S. surpassed $5 per gallon
Are y’all working towards an electric vehicle?
I might need a hook up, on that bootleg gas ???
One of the most gangster scene in the franchisePretty soon
Ninjas gonna be hijacking gasoline trucks while they're transporting
On some fast & furious type shit.....
I may have to stop buying premium gas.
You don't get dressed up to meet a thief.
i think you guys are looking at it the wrong way.
I may have to stop buying premium gas.
These stickers are now showing up on pumps across the country.
Anybody with any clue on how Government works know that POTUS/Congress has nothing to do with the price at the pump.
Big Oil decides the price.
Anybody notice how the ignorant are nowhere to be seen protesting at Big Oil’s Headquarters or their gas stations?
easy to see where the oil supply is coming fromHere’s how prices stand, as of June 13. (All prices are in U.S. dollars for a gallon of gas.)
Hong Kong: $11.35
Norway: $10.22
Denmark: $10.04
Finland: $10.08
Greece: $9.49
Netherlands: $9.33
United Kingdom: $8.39
Spain: $8.35
France: $8.27
Italy: $8.01
Israel: $7.94
Germany: $7.65
Curious who else is in the $5 range? Australia, Chile, India, and Fiji are all in roughly the same place as the U.S. when it comes to gas prices.
Of course, some countries have it better—a lot better. You might think Saudi Arabia has the cheapest gas, but it stands at $2.35 per gallon there, well above other countries in the region. Here’s who has the cheapest gas on the planet.
Venezuela - $0.08
Libya: $0.12
Iran: $0.20
Syria: $1.08
Algeria: $1.19
Gas prices are bad in the U.S., but they're so, so much worse in these countries
Maybe skip the fill-up in the Nordic region of the world…fortune.com
Not even that, we have oil production... it's that state run oil
