Gas Prices Continue to Rise While Big Oil and Gas Companies Make Record-Breaking Profits
Gas prices have been the talk of the town ever since the pandemic hit the United States. During a period of what seemed to be low demand for travel and the need for gas, prices rocketed due to surpluses. But then suddenly, there was too little gas, and prices surged even higher, due to high demand.
The price of gasoline has not returned to pre-pandemic levels, and energy profit analysts predict they will never return to those levels. The prices have remained high although demand and supply have seemed to balance each other out on a level much more stable than pre or post pandemic. The national average is $3.51 a gallon according to CNN Business. Delaware’s gas prices have even risen “62 cents”.
One reason gas prices surged was because of “the extreme weather in much of the United States near the end of last year [that] caused a series of outages at the refineries that produce the gasoline, jet fuel and diesel that keep the economy humming.”