Will Gas Prices Come Down Soon or Stay High?
Summary from the AllSides News Team
Gas prices across the country have hit record levels in recent months, but when are they set to come down?
The national average at the pump rose to $4.92 on Tuesday, according to the AAA, and many analysts have predicted that the average will reach $5 a gallon by the end of the month. Most outlets across the spectrum highlighted an upward trend that is likely to continue until the fall. Perspectives differed, however, when allocating blame for the rising gasoline prices and determining how harmful they are.
Left-rated outlets were more likely to cite Putin's ongoing invasion of Ukraine, China's "strict lockdown rules" and a "stronger demand" for gasoline after the COVID-19 pandemic as primary catalysts of the surging prices. Some voices on the left argued that these inflated prices are good for the environment "in the long run" as they will encourage more Americans to carpool and generate a manufacturing spike of electric cars.
Conversely, many right-rated voices criticized the Biden administration for "trying to divert blame onto" external factors such as the Ukraine War and individual energy firms. Some voices on the right argued that President Joe Biden "doesn’t want to" boost domestic oil production as he views high gas prices as a "necessary part" of a transition from fossil fuels to renewable energy. Fox News (Right bias) cited Biden's energy policy as "American energy's biggest threat" and claimed American consumers are "paying the price for this avoidable travesty."
Featured Coverage of this Story
From the RightGas prices are through the roof. That’s just how Biden wants it.
Approaching his 500th day in office this week, Joe Biden is the least popular U.S. president at this point in his first term in the modern polling era. His approval rating might drop even further now that Americans are home from their Memorial Day weekend travels. According to AAA, this was one of the most expensive Memorial Day travel periods on record, with gas prices hitting $4.62 — the highest average price at the pump ever recorded.
But as Americans were struggling to put gas in the tank, President Biden appeared to praise high gas prices as...
From the CenterGas Prices Are at Record Highs. Here's Why They Won't Drop Anytime Soon
We're just pennies away from $5 for a gallon of regular gas, according to the latest data from AAA, which reported the national average at the pump on Tuesday is about $4.92.
Heading into summer, analysts predict even higher prices: According to a report by JPMorgan, the US could surpass $6.20 a gallon by August.
Thirteen states -- Alaska, Arizona, California, Hawaii, Illinois, Indiana, Maine, Massachusetts, Michigan, Nevada, New Jersey, Oregon and Washington -- have already blown past the $5 threshold, with California leading the pack at $6.37 a gallon.
From the LeftWhy US gas prices are at a record, and why they’ll stay high for a long time
Russia’s invasion of Ukraine is a major reason that US drivers are paying record prices for gasoline. But it’s not the only cause of the spike.
Numerous factors are pushing prices up, with regular gasoline hitting a record $4.87 a gallon Monday according to AAA’s survey — up 25 cents a gallon in just the last week.
Gas prices were already expected to breach the $4 a gallon mark for the first time since 2008, with or without shots fired in Eastern Europe or economic sanctions imposed on Russia. But now the...