(TheIndependentStar.com) – As of Tuesday, June 22, gas prices in Los Angeles, CA, were at $5.95 for a gallon of regular unleaded. While the California market is notoriously pricey compared to the rest of the country, this is still an indication of the massive increase in fuel prices this year.
The Biden administration blames the price hikes on an increase in demand. After all, officials maintain, people want to get out of their homes after over a year of pandemic-related lockdowns. Avoiding the fact that over 70% of office workers are still working from home.
White House claims increased demand for gasoline is cause of high gas prices | One America News Network https://t.co/PTS1IKJ78D
— C Noname (@Flash908) June 27, 2021
While this statement from the White House might sound like it makes sense, it is largely inaccurate. As of Memorial Day, the unofficial kick-off of summer, average prices in the country were at their highest in seven years.
The administration’s stance ignores the actual factors that decide the cost of fuel. The US Energy Information Administration explains that the price of gas is defined by the costs associated with crude oil, taxes, refining, distribution, and marketing.
While there is no doubt demand will make prices go up, it is not the only factor involved. Instead of pushing this off on consumers, the Biden administration should consider looking at other factors to see if there are any possible measures that could bring Americans some relief at the pumps.
Copyright 2021, TheIndependentStar.com
