The experts must have it in for Democrats, because they are predicting that gas prices will hit over $6 per gallon on average around the country as the summer swelters:
DC EXAMINER – Come August, drivers across the nation could spend more than $6 per gallon of gas to fill up their vehicles.
Due to unresolved problems with the fuel supply chain and an expected increase in summer traveling, JPMorgan Chase analysts predict another surge in gas prices this summer.
“There is a real risk the price could reach $6+ a gallon by August,” said Natasha Kaneva, head of global oil and commodities research at JPMorgan Chase. “U.S. retail price could surge another 37% by August.”
With each additional $1 increase in gas prices, JPMorgan Chase estimates that Americans’ consumer habits will drop by 60 cents.
“The hit from higher gas prices is twofold for high-gas-consuming states. Not only do higher prices reduce real income by more than elsewhere, such states appear to be less able to offset higher prices by reducing real demand,” said Peter McCrory, U.S. economist at J.P. Morgan Research.
As of Thursday morning, the average price of a gallon of regular gas had reached $4.59, while a gallon of premium gas had reached $5.20 — more than a $1.50 increase from last year at this time.
Just the other day we told you about three large domestic oil and gas leases that the Biden administration just shut down.
Biden claims to be doing everything to lower the price of gas, but in reality he’s doing the opposite. This is evidenced by the fact that the price of gas just keeps going higher.
By August it will be absolute insanity around the country if it comes anywhere close to $6. Heck it’s already hard enough on people’s wallets as it is, with gas prices getting closer to $5 per gallon on average.
But hey, if Democrats feel that forcing people to pay this much for gas is the way to win in November, then more power to ’em.
We’ll get ready for a slaughter:
Punchbowl News: DCCC internal polling “finds that in battleground districts, the generic Republican is beating the generic Democrat, 47-39, according to lawmakers, multiple party officials and the DCCC.”
— Josh Kraushaar (@HotlineJosh) May 18, 2022