The Real Reasons Behind Record-Breaking Gas Prices

The average price of a gallon of gas in the U.S. is at an all-time high of $4.43, significantly above the previous record of $4.11 set in 2008.  

Gas prices are going up – way up, and that’s an unfortunate truth that every driver in the country is grappling with. As a consumer, do you understand why gas prices are increasing?

So What Are The Real Reasons Behind Record-Breaking Gas Prices in 2022?

U.S. Sanctions Against Russia

On March 8, 2022, the U.S. officially announced a ban on the importing of Russian gas and oil. While the US imports only between 5-10% ...SWIPE UP to read the rest

Overall Oil Production Ramping Up Too Slowly

In 2022, the world’s oil producers have failed to anticipate renewed demand. As a result, supply-chain issues are still lingering.

THAT'S NOT ALL! There are 2 other critical reasons that are contributing to record-breaking gas prices.