While experts say the current gas price spike is mostly driven by demand recovering faster than the winter storm-squeezed supply, others warn “hostile” White House policies are likely to drive them even higher in the long term. The average price per gallon in the United States as of Tuesday morning was $2.82, up 34 cents from a month ago, according to Gas Buddy, with experts widely believing consumers should brace for more pain at the pump. “The national gas price average will likely hit $3 by Memorial Day and stay around that price for the majority of the summer,” Jay R. Young, Chief Executive Officer at King Operating Corporation, a Dallas-based oil and gas operator, told The Epoch Times in an emailed statement. Young explained the rising gas price story as resurgent demand combined with squeezed supply. “Gasoline demand rose to the highest level last week since the pandemic began as …
Gas Price Surge Fueled by Supply Squeeze, But Biden Policies Could Drive Them Higher: Experts
March 9, 2021
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