* From Forbes: Will Gas Prices Continue To Decline? How To Save At The Pump This Summer
Kelly Anne Smith- Updated: Jul 18, 2022, 5:02pm.
Forbes Advisor Staff

*Why Are Gas Prices So High?
High demand for crude oil and low supply pushed gas prices upward this year. And though the Federal Reserve has raised interest rates three times so far in 2022—and is planning on more raises in the near future to nudge prices down—there are other factors at play internationally.

Crude oil, the natural resource used to produce gasoline and diesel fuel, has seen dramatic changes to its supply throughout the pandemic. When Covid-19 first hit worldwide and fewer people were on the roads, major oil-producing companies cut back on their oil production.

In April 2021, the Colonial Pipeline, the nation’s biggest fuel pipeline, was the target of a cyberattack that forced it offline for six days. The shutdown led to gas shortages nationwide, and pushed average prices above $3 before Memorial Day 2021. A breach and spill in a key pipeline that supplies fuel to the southeast occurred in October 2021, and repairs were slowed by heavy rain and flooding.

The war in Ukraine is a compounding factor in these issues. Russia, which produces about 10% of the world’s oil supply, is being sanctioned due to its invasion of Ukraine. The United States has completely banned Russian oil imports, which also means what remains of the global supply is also being squeezed.

OPEC, an alliance of oil-producing countries, vowed to increase production this summer—but already missed its target. Oil output in June from the organization actually declined from projections due to disruptions in Nigeria and Libya.

The combined consequences of these scenarios mean states all over the country are seeing sky-high gas prices.

* but...but its Biden's fault because when Trump was in the WH BS...!!

Have you noticed none of the MAGA Kool-Aid drinkers want to discuss the falling gas prices?

Probably for the same reason they don't want to discuss Trump's "the noise for windmill causes cancer" remarks.