By Paloma Franqui, Grade 5
One problem that has been happening in this world is that gas prices have started going up. It is beginning to rise. The highest it has been was about 4 dollars, even in some places all over the world it is already 5 dollars and more. Some people are getting upset over these gas prices and want them to be cheaper. They think that they are paying too much just for one regular gas. Some people believe that it’s okay and they want to pay more. Gas prices are going up all over the world. California has the highest gas price, and Missouri has the lowest. This year, 2022, it started going up for nearly six weeks straight. Gas prices began increasing because the U.S could no longer purchase oil from Russia. This resulted in the U.S having a low supply of gas available but still high demand, which cost gas prices to go up. Joe Biden imposed sanctions on Russians. Ever since the war between Ukraine and Russia.
“High gas prices are eating away at consumers’ disposable income and could lead to a further economic downturn, especially for those whose livelihood depends on gasoline and diesel fuel” – Major Owens. “While millionaires liberals like Justin Trudea may want higher gas prices, hardworking Canadian families do not” – Andrew Scheer. “I think there’s a fine line between confidence and arrogance,” Andrew Scheer. Some interviews people have done were, for example, “What can Sacramento drivers can expect from high gas prices hitting record levels. Steve Milne.”
Oil prices depend on supply and demand. The United States depends on Russia for oil supplies even though it’s only 8% we are getting from Russia. Gas prices are hitting a record high in the U.S. Our families spend a lot on gas prices, and some families out there can’t even bring food to the table just because of how much gas prices are. Some of the states right now are having an oil crisis. The companies who manage truck deliveries are so high that they can’t deliver many packages, for example, from California to the U.S. Even those prices are going up because of the skyrocketing gas prices. They can’t afford all of that gas. We need freedom from these gas prices, and these gas prices are taking that away from us. Petroleum prices are determined by the market forces of supply and demand, not by any individual companies. Retail gasoline is mainly affected by crude oil prices and the level of the gasoline supply relative to the gasoline demand.