While many Americans are counting down the days until we have warmer weather, there is an insidious detail lurking in the sunshine.
According to GasBuddy head of petroleum analysis, Patrick de Haan, we are looking at soaring gas prices as a result of warmer weather and summer traveling.
"All of the factors are going to point to an upward trajectory when we start seeing the transition, warmer weather, refineries doing maintenance," he told FNC's "Varney & Co." on Monday. "All the ingredients are there to hit four bucks a gallon."
"We’re going to see a lot higher prices in the months ahead," Haan said. "Even if the Democrats do go ahead and give us a whopping 5% coupon."
Fox Business reports:
The current national average price of regular gas is $3.35 per gallon, a full dollar more than prices were in 2020, according to AAA.
Meanwhile, Democrats are proposing to temporarily scrap the federal gas tax which de Haan doubted would make much of a difference in states like New Jersey where prices at some pumps are exceeding $5 a gallon.
Crude oil has also hit a seven-year-high amid tensions between Russia and Ukraine. Former Trump Interior Secretary Ryan Zinke blamed flaring foreign crises on Biden’s energy policy Monday on "Mornings with Maria."
"There’s consequences of… not being in a position where we can leverage our energy resources," Zinke noted. "And Russia, at $90 a barrel, they can fund a lot of military operations from the high energy prices. And, unfortunately, we’re paying for it at home."
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