Report: US gas prices could soon double, due to potential supply shortage

Some gas stations across the country are already gearing up for the next big thing involving fuel price spikes, with the price per gallon potentially surpassing $10.

For other stations, however, there may be no more product to sell at the pump.

Across eastern Washington, according to a Post Millennial report, gas stations are running out of fuel.

In the Tri-Cities area of ​​Kennewick, Pasco and West Richland, customers would stop at the pumps… only to find no gas available for purchase.

In fact, a local Facebook group has already identified 10 state stations that are currently out of fuel.

This current shortage mainly concerns ordinary unleaded and premium petrol; but the supply of diesel is also insufficient, according to reports.

Supply seems to be shrinking and demand is increasing dramatically, which naturally leads to higher fuel prices.

A “76” gas station in Auburn, Wash., has already begun reprogramming its pumps to “make room” at double-digit prices, according to the Post.

In the report, a 76 spokesperson confirmed that the national gas chain was rescheduling the functionality of its pumps, while also not anticipating gas prices to rise as high.

In January 2021, the last month of former President Donald Trump’s tenure in the White House, the average gas price was $2.41 a gallon – with some states even reporting gas at less than $2 a gallon.

In the aftermath, however, coinciding with the inauguration of President Joe Biden, fuel prices have skyrocketed in America.

How big are the increases? According to GasBuddy.com, a site that tracks gasoline prices around the world, only one state, Oklahoma, ($3.98 per gallon) has a price per gallon below $4 right now; and six states – Oregon, Alaska, Washington, Nevada, Hawaii and California – have average prices of $5.04 or more.

From a national perspective, the United States would have set a new record last week, posting an average range of $4.43 per gallon. According to AAA, that’s up 35 cents from April … and up $1.43 per gallon since May 2021.

According to CBS News, premium gasoline now averages $5.07, down from $3.62 a year ago, while diesel has gone from $3.15 to $5.56 per gallon over the past year. same period.

Consequently, seemingly exorbitant prices for gas and food, among other necessary commodities, have contributed to America hitting 40-year highs with inflation.

The Biden administration cites “inflation” as one of its highest priorities right now. But last week the White House also canceled oil leases in Alaska, apparently covering 1 million acres in the state.

This prompted Rep. Jim Jordan, R-Ohio, tweet in response.

“Joe Biden just canceled a million acre oil lease in Alaska.

“It’s like they’re intentionally trying to get gas prices high.”

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