Gasoline and diesel fuel prices across the United States have spiked considerably in the past few weeks, since the U.S. and Israeli militaries began attacks on Iran, and the Strait of Hormuz, through which 20% of the world’s oil shipments pass, was shut down. The typical increase in fuel prices that comes in warmer months is also contributing to this spike. It is unlikely that gas or energy prices will go down anytime soon, and can be expected to continue rising.
The economic impact is not just being felt by the average car owner at the pump: trucking companies and landlords are reporting that the rising costs of diesel fuel for vehicles and heating homes may be passed down to consumers. In addition, food and fertilizer prices may also rise as manufacturing and shipping become more expensive as well.
To get a current idea of the average gas and diesel prices nationally and in your area, you can visit the official U.S. Energy Information Administration webpage and use sites/apps such as GasBuddy. The effects on oil shipping are expected to have widespread international impact as well.
The price of airline tickets has also spiked as a result of jet fuel becoming more expensive. Many Americans have reported canceling or altering their travel plans. Travel by air has been further complicated by the ongoing partial government shutdown delaying funding to the Department of Homeland Security and putting strain on the Transportation Security Administration (TSA), and by the deployment of Immigrations and Customs Enforcement (ICE) agents to major airports as intended crowd control and support for an indefinite length of time. Travelers can expect severely increased wait times going through airport security, and should be prepared to change their schedules if necessary.
If you have any questions or concerns, please feel free to contact us anytime at info@gravityintprog.com. Stay safe and healthy!
