I knew that would get your attention. Sorry to deceit, but the government actually expects gasoline to peak at $3.60 a gallon. These rising gas prices will force many Americans to reconsider traveling this summer. According to the Energy Information Administration (EIA), high prices and a weak economy are expected to cut demand for gasoline by about 0.4 percent during the peak summer driving season. The government previously predicted that gasoline prices were supposed to peak at $3.50, but many analysts believe prices will rise higher than the EIA’s last estimate.
Ironically, or not so much, while prices of gas prices are consistently increasing in the United States, they remain stable in China, India, Russia, and the Middle East. I could easily offer many criticisms on what the government should be doing to solve this problem, but for some reason, I think we all know that answer.
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