First, why are prices at the pump so high in general? There are several factors at play here Since gas prices at the pump tend to follow the price of crude on almost a linear basis, none of this is astounding.
There has been a slackened increase in the global demand for crude oil due to the worldwide loosening of the COVID-19 restrictions, this left the “experts” in awe after exceeding their expectations, this variable has led to a global tightening of crude markets.
Gasoline prices are indeed high and destined to go higher, for a variety of reasons. Everyone would be well-advised to plan accordingly.
