Is Speedway Pay At The Pump? [Solved!]

You may have noticed that at the pump, prices are going up and up. Whether you’re paying at the pump directly or through your fuel suppliers, it’s clear that the cost of gas is on the ascent. But why is gas so expensive right now? Do you think it’s because of the coronavirus (COVID-19) pandemic and the oil price fluctuations that came with it?

While there’s no question that the pandemic and its subsequent economic effects are playing a role in the increasing gas prices, the root of the problem is more complicated. Let’s take a closer look.

The Coronavirus Is Contributing To The High Gas Prices

In early March, the nation was gripped by the COVID-19 pandemic, which at the time had infected over 200,000 people and caused over 10,000 deaths across the world. For most people, the illness presented with mild symptoms and a relatively easy recovery rate. But for some, especially those with pre-existing health concerns, the effects of the virus were much more severe. In the U.S., the number of people living with the virus and the number of cases increasing rapidly. As the number of cases rose, so did the fear of infection, and consequently, the demand for gas surged. Gas stations, worried about running out of fuel due to the increased demand, raised their prices to try and make up for the temporary shortage. This was especially notable in states like New York, where the price of gas went up by nearly 20 cents a gallon.

While the gas prices initially rose because of the pandemic, the underlying cause is still firmly planted in the medical community. Doctors and scientists are still working to understand the extent of the virus, and while some individuals may have been infected without ever knowing it, there’s still no vaccine or cure. This means that even now, as the nation attempts to slowly rebuild, the threat of COVID-19 continues to loom over the country. It also means that the demand for gas, and the price of gas, will most likely continue to go up.

The Rising Costs Of Oil And Gasoline Are Impacting The Price Of Gas

The energy industry, especially the oil and gas industries, are largely to blame for the skyrocketing prices of gas. Unsurprisingly, as the world’s appetite for oil and gas grows, so does the demand. That growing demand is largely responsible for the current prices of oil and gas, which is in turn being passed on to you at the pump. The costs of oil and gas in particular have increased significantly over the past few years, and it’s not just at the pump. Since 2014, oil prices have risen by more than 60%, and gas prices have climbed by more than 30%. Inflation is also a significant factor, and a trend that economists predict will continue.

Where does all this go? The simple answer is that it goes to pay for more expensive energy. To ensure you have enough fuel for your travels, you’ll have to pay more. But it’s more than that. Rising gas prices are also prompting people to consider alternative, cleaner-fuel modes of transportation, such as electric cars and public transit. Which means that even if you do have enough fuel at the pump, you may not want to fill up just yet.

Why Is Gas So Expensive Now?

There are several reasons why gas is so expensive now. First, let’s review what’s going on at the pump. Since the early part of the year, as the nation has tried to slowly rebuild from the effects of the pandemic, the demand for gas has skyrocketed. The number of vehicles on the road, especially heavy vehicles like trucks and buses, has also increased, as has the number of long-haul trucks and buses on the road. This means there’s more fuel being consumed, and more fuel price spikes looming. The average price of gas, at least at the pump, has gone up by nearly 10 cents a gallon in the past month alone.

Second, we need to remember that just because the price of gas is increasing, it doesn’t mean that it’s necessarily more expensive. For drivers in most parts of the country, the cost of gas is still relatively low, considering what you’re paying at the pump. But at the same time, the cost of oil and gas is high in relation to the prices you’re seeing at the pump. This is creating a disparity, and it’s prompting people to question whether or not the cost of gas is increasing as a result of the oil and gas industry’s higher prices, or whether or not gas prices are just rising due to increased demand.

What Can You Do To Stop The Cost Of Gas From Going Up?

There’s a lot you can do to try and stop the cost of gas from going up. First, realize that while higher oil and gas prices are definitely bad for the economy and the environment, they’re also prompting people to change their behavior and consider alternative fuel sources and more fuel-efficient vehicles. Gas stations have also started to limit how much fuel you can pump for free, so that they can charge more for regular fuel, particularly during peak hours. While you can’t change the law, you can take measures, such as buying gas early in the morning when it’s cheaper, or on a cloudy day, to reduce your fuel costs. Of course, driving less is also an option, if you want to save money at the pump. Or you could always consider an electric car or a fuel-efficient vehicle. While they may not be the most environmentally-friendly option, at least you won’t be contributing to the pollution. Finally, don’t forget about those energy savings that come with a reduced energy bill. It’s not just about the money, it’s about how much money you’re spending on energy overall. When you consider that electricians and contractors can charge you twice as much as a regular electrician, it’s definitely worth looking into the savings offered by a programmable thermostat.

Do NOT follow this link or you will be banned from the site!