A survey published in July found that 72% of Americans say they’re experiencing financial insecurity, and many are living paycheck to paycheck. Americans are increasingly going into more debt, and the country’s national debt is currently over $32.8 trillion, translating to an excess of $253,000 of debt per U.S. taxpayer.
Despite the recent price drop, the cost of gas at the pump, is still 19 cents a gallon higher than last month and remains 34% higher than the $2.38 a gal average when President Donald Trump left office.
Countries including Belgium, Poland and Italy say a cap is needed to shield their economies from high energy prices, while Germany, the Netherlands and Austria fear it could divert much-needed gas cargoes away from Europe.
When Biden took office on Jan. 20, 2021, the average price for a regular gallon of gas, stood at $2.39. but as of Nov. 8, the price has increased to about $3.80 per gallon, according to the American Automobile Association.
The national average of a gallon of gas in the United States hit a record high on March 7 as prices soar amid the Russia–Ukraine war.
The average price nationwide hit $4.104 on Monday, breaking the record of $4.103 set in 2008, according to GasBuddy.
The record came after the national average spiked 49 cents in just one week, breaking the previous one-week spike set in 2005, the gas-tracking company said.
An energy executive instructs Sen. Warren on natural gas prices and CO2 emissions.
Another Devil’s advocate © 2021. All rights reserved.
