Local pain at the pump has been a chief concern for pundits and politicos who fear the future of a commodity that fuels the American economy.
Here's a bit of hope . . .
"Although prices continue to climb, the increase has been less in the past week than it was in previous weeks. Kansas City area prices have risen 8 cents in the past week, while national costs have stabilized."
Read more via www.TonysKansasCity.com link . . .
KANSAS CITY METRO (KCTV) - Kansas City area gasoline prices continue to rise, now reaching $3.76 a gallon. Despite that figure being 62 cents higher than this time last month, it still pales in comparison to the national average, which has risen to $4.32 a gallon.
Further reading . . .
When President Biden announced last week that he was banning Russian oil imports to the United States to retaliate against Russia's invasion of Ukraine, he conceded that Americans would pay more for gas as a result. "Defending freedom is going to cost," Biden said. "It's going to cost us as well."
There's pain at the pump for American drivers as US gas prices soar to record highs.
At face value, the cynicism surrounding Republicans' rhetoric about gas prices is head-spinning. The party that demanded the Biden administration ban the import of Russian oil is the same party that's blaming the Biden administration for consumers paying more at the pump - in response to the ban on important Russian oil.
Gas prices have reached a record high of $4.331 per gallon as of Friday morning (not adjusted for inflation), with the prospect of going even higher. The big picture: The U.S. is effectively energy independent, but bans on Russian oil exports from the U.S. and other countries will have a knock-on effect in world markets.
"No more subsidies for the fossil fuel industry! No more drilling on federal lands! No more drilling, including offshore! No ability for the oil industry to continue to drill, period. [It] ends. Number one!" That was candidate Joe Biden declaring war on American energy independence during a CNN primary debate in March 2020.
Developing . . .