Solomon Holzhauer- week 7- Expensive gas

 I think all of either have heard or have dealt with the prices of gas increasing by a-lot.  And if you pay for your own gas, as a teenager that definitely makes it 10 times worse, because you have your own job and still get payed the same even with the higher gas prices. A big reason the prices for gas are going up or have gone up is because Russia is one of the world’s biggest oil suppliers, and they supply us with a good amount of oil, a very good amount and because of the War, they stopped supplying everyone with oil, so we have less oil to give out, which means it oil/gas is more valuable so its more expensive, since there is less of it. In December, for example, Russia sent nearly 8 million barrels of oil and other petroleum products to global markets, which also included 5 million barrels of the crude oil which is used to make gasoline among other items. There was only a little bit the Russian's supplies us with, which was just 90,000 barrels of crude oil per day in December, if you think about it that is alot, so imagine the countries that they send most of their oil to how expensive it will be for them to have to pay for gas when Russia stops supplying them.

What are your thoughts on this topic? How are you dealing with the uprising in price for gas?





Comments

  1. AnonymousMar 16, 2022, 4:56:00 PM

    I think it's so crazy how high the gas prices have gotten in such a short amount of time. A few days ago, I was filling up gas and it was almost $5.00 per gallon which is crazy and to think that this is on the less expensive side of gas prices across the country, is even crazier. Thankfully, I don't have to worry about the stress of paying for my own gas during this time and I am so grateful for my parents as they pay for it. Hopefully, the prices go back to normal soon.

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  2. Atara BerkowerMar 22, 2022, 10:36:00 AM

    The gas prices have boomed since the start of the Ukrainian and Russian War. It is crazy to think about the two dollar gas that we received last year because their was too much supply of it. Last week, I needed gas right away and was stuck paying $4.50 for it at Shell.

    ReplyDelete
  3. AnonymousMar 22, 2022, 10:57:00 AM

    The gas prices right now are insane. I pay for my own gas, which means I have to work much more in order to pay for it, and I am ending up spending more of my paycheck on gas than other things. I hope they go down soon.

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