Gas prices hit 7-year high because of increased demand – Riverside, California

Riverside, California 2021-10-27 11:45:44 –

AAA and gas buddies say current gas prices are the highest in the last few years due to high demand and low supply.

Charlotte, NC — Editor’s Note: The headline for this article has been changed to clarify the root cause of rising gas prices.

If you recently filled your car, you know Gas prices are higher than just a few weeks ago.. AAA and Gas Buddy are popular services for tracking gasoline prices across the country and agree that current prices are the highest in the last few years.

In North Carolina The average price for a regular gallon is $ 3.24.. This is the highest since 2014 and last week’s price rose 14 cents.

So what is the reason behind the rise in gas prices?Many people comment on WCNC Charlotte’s Facebook page President Joe Biden claims to be responsible Due to the high fuel costs, industry experts say it has nothing to do with the White House.

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Is the Biden administration the main reason we are seeing rising gasoline prices?

Our source:


No, the Biden administration is not the main reason we are seeing rising gasoline prices. Instead, it is because of high demand and low supply.

What we found:

According to AAA, the average price of a regular unleaded gallon in North Carolina is $ 3.24, the highest since 2014.In Charlotte, gas buddies have an average price $ 3.17.

“Demand continues to grow and oil supply does not,” DeHaan said.

“”OPEC (Organization of Petroleum Exporting Countries) has not increased production to pre-pandemic levels, “Wright said. Demand is increasing now, and what we see is that demand exceeds supply. “

Wright and DeHaan said rising gas prices aren’t just a problem in the United States, they’re affecting the world.

“Asia and Europe, now they are suffering from a shortage of natural gas,” Wright said. “Therefore, as Asia and Europe are looking to the oil market, demand is increasing further.”

In addition, both presidents said they did not control gas prices.

“The government has no control over gasoline prices,” Wright said. “Gas prices are directly influenced by the cost of oil. The biggest reason now is the price of oil.”

And you can’t forget the pandemic. DeHaan said that most supply issues are related to COVID-19, as are production and shipping issues.

Contact Meghan Bragg at mbragg@wcnc.com And follow her Facebook, twitter When Instagram..

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