A lot of gas is used every day for transportation. With most people relying on their vehicles for transportation, it is no surprise that the gas used would take a chunk out of a person’s check. While that portion is small, the increase in gas prices is making it harder for people to fill their tanks. But why are the prices increasing? The main cause is inflation.

What is Inflation? It is the general increase in prices and the fall in purchasing value. This is caused by a high demand for limited supply. With over 225 million registered drivers in the United States, it comes as no surprise that the demand for fuel is bound to be high.  

Although 65% of the United States petroleum products are produced domestically, the 35% that is imported has been affected by the war in Ukraine. Even with a ban on Russian energy imports, Russia has also pulled back on exports world wide. Being one of the biggest petroleum suppliers, this has caused difficulties world wide. According to Statista, the price of gas is particularly higher in Italy, France, Norway, and the Netherlands. 

Also, gas production was also impacted by the pandemic. Although the production has been slowly going back to pre-pandemic levels, it is nowhere near where it used to be. Similarly, the transport of gas is difficult due to limited truckers. The supply already in the U.S. is going to have a difficult time being transported to local gas stations due to this. 

According to the AAA, The American Automobile Association, the average price of gas in Georgia  is $4.24. With a national average of $4.29 and an average of $4.24 in Madison County, gas prices are not expected to fall. Quite the contrary, actually. 

Can Inflation be fixed? The Federal Reserve can increase interest rates, making people more willing to save rather than get loans. 

GasBuddy experts believe that prices will stay well over $4 into November. But don’t let this discourage you! Now that warmer seasons are coming, your car won’t need to warm up for as long, and that shortened time will help save some fuel. Speeding and rapid acceleration will also use more gas. In the end, prices are probably going to stay like this for a while, so every drop counts!