The worst is yet to come for American consumers, experts say, as gas prices hit a national average of $4.28 per gallon on Wednesday.
"At this moment, given things can change, I think the national average could rise to $4.50/gal, but could go higher if there are escalations in the situation," he said.The national average surpassed $4.35 on Thursday, and California is leading the way with the highest state average of $5.67 per gallon.Facebook Live segment TuesdayGeltrude & Co.
"It would not surprise me," he said. "So until the United States decides, or this administration decides that we are going to pump more oil, it is not going to change. It's not. Fuel costs are just going to continue to rise."Campbell Faulkner, senior vice president at OTC Global Holdings, told Fox News Digital that prices could "easily" rise to $5 in places like Houston, where the average is currently topping $3.96.
President Biden told reporters Tuesday that he "can’t do much" about the rising prices and blamed the situation on Russia’s war against Ukraine., gas and energy imports to the U.S. in an effort to weaken Russian President Vladimir Putin, but the move is expected to push gas prices even higher. Republicans and some Democrats have called for more domestic oil drilling as a solution, but Biden has continued to push his green agenda."Loosening environmental regulations won’t lower prices," the president declared in a tweet Tuesday evening. "But transforming our economy to run on electric vehicles, powered by clean energy, will mean that no one will have to worry about gas prices. It will mean tyrants like Putin won’t be able to use fossil fuels as a weapon.
this week. "It’s a dire situation and won’t improve any time soon. The high prices are likely to stick around for not days or weeks, like they did in 2008, but months."
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