In the article, “Stuff You Should Know: Crisis at the Pump”(McGraw Hill) I learned that gas prices in the United States have increased by 55 cents each week. This puts the record high to be $4.17 a gallon. Many people wonder why the increase in gas prices has gone up so high but the answer is quite complicated. It is a mixture of multiple reasons. Since, Russia’s invasion of Ukraine has caused the U.S. to ban imports such as oil from Russia. The U.S. receives about 8 percent of its oil from Russia so it leads to a supply and demand problem. Global gas prices have been rising as the population responds to expanding COVID vaccinations. Although gas prices have increased, many people still support the decision in banning Russian imports. It has been stated that Biden pledged to use thirty million barrels of oil from reserves to help decrease the prices of gas.
I believe that the gas prices here in California are extremely high and it is getting out of pocket. I also understand the reason for the increase in prices. I feel like the U.S. should try to find any other import from another country which would decrease the prices. Using the oil that is reserved could later on affect us.
Do you believe Biden should use the oil that is reserved and decrease gas prices?