President Joe Biden has called for an investigation into persistently high gasoline prices. With the average price of gas around the U.S having climbed to $3.17 a gallon, Mr. Biden suggested that pandemic "profiteers" might be to blame. He states, "there's lots of evidence that gas prices should be going down — but they haven't," he said Thursday. "We're taking a close look at that." However, experts disagree and say there is little evidence of anything "nefarious," that pertains to the high cost of fuel. Experts also believe that the prices of gasoline will decrease later this year. For now, the main reasons they've stated that gasoline prices are rising are supply disruptions, high demand, and low production. With most oil companies being closed in the Gulf of Mexico due to Hurricane Ida, storms and hackers blocked off the production and transport of gasoline. Americans driving more than a year ago calls for a higher demand. Philip Verleger, an energy economist stated, "gasoline prices are being propped up by U.S. independent producers and OPEC members limiting their oil production, by the cost of blending ethanol into gasoline and by lower gasoline inventories." Last month, Biden urged OPEC members to increase the output of oil at the same time the concern was rising that higher energy prices might slow down the US economy's recovery from the pandemic.
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Questions:
1. In your opinion, what do you think the main cause is for the rising of gas prices?
2. How do you think the rising of gas prices can be solved?
Replies
Finn,
I am looking for more of your thoughts and opinions on this topic. This is an article summary. Be sure to make it more of your own next time.
Biden did that! I think there may be other reason's but I think he is the main reason. And how can it be solved, bring back Trump the best president ever! We shouldnt have voted Biden in in the first place. As soon as he took office everything for our country started getting worse, gas prices is just one.
I think that the main reason for the rising of gas prices is Biden. I think that a lot of the democratic ways increase the gas prices like their push for a higher minimum wage. I also think that if Trump was still in office then the prices would be much cheaper and more affordable.
I believe that the products to produce gas is being disrupted. Brasil had a drought year so we can't import any corn products to make ethanol. Hurricane Ida also has dirsuppted the oil extraction in the Gulf of Mexico. I believe that the gas prices will go down eventually.
I think part of the reason that gas prices went up are becasue Biden closed the pipeline which made is more expensive to transfer the gas. Also it was a matter of time before gas went back up becasue it had been so low for so long. I don't think there is really any way to solve the issue.
I think there is two main reasons for rising gas prices, one is because biden closing down the pipeline which makes it harder to get gas across the country. I also think imported gas is taxed to high because of poor relations with other countries.
I think the main cause for gas prices raising is because of biden closing down the pipeline right when he came into office, I do think gas prices could easily be solved by reopening the pipline to run gas to parts of the country faster.
I think its because Biden closed the pipeline and that made gas prices skyrocket. So we dont have enough and its make gas keeping going up. I think this can easily be solved by making more gas.
One of the reasons gas prices are rising are most likely because of inflation. It could also be because there's a low supply of gas, but a high demand for it, so therefore, it'll be more expensive than normal. We could solve this by producing more gas.
I think the main cause for rising of gas prices is because we don't have enough. Also Americans use to much of gas and the price is going up because producers are limiting oil production.
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