I know folks here are tired of all of this winning, especially when it comes to gas prices, which are up 51 cents over a week ago, and could be approaching the $4-a-gallon mark in the next week.
“With additional attacks across the Middle East over the weekend pushing oil above $100 per barrel for the first time in years, fuel markets are now rapidly recalibrating to the risk of prolonged disruption to global supply flows. As a result, gasoline prices in many states could climb another 20 to 50 cents per gallon this week, with price-cycling markets potentially seeing increases as early as today,” said Patrick De Haan, head of petroleum analysis at GasBuddy, which has the average gas price nationwide at $3.45 a gallon today.
And on top of that, diesel is 85.9 cents compared to a week ago and stands at $4.599 per gallon at the start of the business day on Monday.
That’s pain you will feel every time you buy anything, as those costs are passed on to you at the grocery store, retail stores and everywhere else.
The outlook for diesel: prices, per De Haan, “may rise even more sharply, with increases of 35 to 75 cents per gallon possible as global distillate markets react.”
Good news, though, from the president, who offered a crafty solution to the main issue pushing prices up – that Iran has closed off the Strait of Hormuz, through which 30 percent of the world’s oil flows.
“These ships should go through the Strait of Hormuz and show some guts, there’s nothing to be afraid of. They have no navy, we sunk all their ships,” was what our POTUS told “Fox & Friends” host Brian Kilmeade on Monday.
“Show some guts,” says the guy who avoided the draft during the Vietnam War era five times.
Video: Gas prices are through the roof
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Chris Graham
