Road trips and summer vacations go hand in hand. It’s when college students and families alike load up their cars and just drive on the open road of America. There’s just one problem. With the rising costs, those road trips are about to get a lot more expensive.
To go from one coast to another, you’re looking at 2600 miles – or more. That’s about eight fill-ups in a regular vehicle. Considering that it’s costing most people $30 to $40 more to fill their tank than it used to, the travel alone will cost hundreds of dollars more. That’s not even taking into consideration the food and lodging along the way.
Road trips are supposed to be the cheaper option in comparison to flying. You can travel hundreds of miles for $20. That used to be the case during the Trump administration, but Biden doesn’t care how much it costs for you to fill your tank.
And JP Morgan Chase has a few interesting predictions that you should know about, too.
In a report that they published entitled “Cruel Summer,” they estimate that regular gas could easily top $6 a gallon by the time we reach the height of summer.
The national average has been on the rise for over 10 consecutive days. Most people in the country are now paying at least $4.589 – and in some liberal cities throughout California and New York, prices are already over $5 a gallon.
Natasha Kaneva, the bank’s commodities research lead, explains, “US retail price could surge another 37% by August to a $6.20/gal national average.”
With the way that things are going, we can’t even be surprised by this prediction. And all of this is happening while Biden and his administration promise that they are working on some kind of relief. Imagine what the prices could be if he wasn’t working on something. Oh, wait – we’re already there.
We’ve learned to recognize Biden’s promises as empty.
No state is averaging less than $4 a now. And as many muse across social media, it’s only a matter of time before we start to see businesses suffer. People will be calling out of work because they can no longer afford to put gas in their tanks.
Even the most conservative states have been unable to stop the onslaught of high prices. Florida Governor Ron DeSantis has also predicted that gas prices could see $6 – and blames it squarely on Biden’s leadership.
Of course, Biden blames it on Putin and the invasion of Ukraine. However, we all know that gas prices were on the rise long before Russia chose to step foot across the Ukrainian border.
DeSantis provides a more accurate explanation for the higher pump prices. In a recent press conference, he said, “They’re canceling oil and gas leases in places like Alaska and the people, the people that have to fill up their gas tanks are the ones that are paying the price for those bad policies.”
It’s easy to agree with him. When it’s no longer just the GOP concerned about Biden’s policies, we have to worry. JP Morgan Chase and countless financial analysts are worried that we’re one bad policy away from a recession of epic proportions.
Meanwhile, Biden keeps smiling into the camera and telling Americans that he understands what we’re going through and that he’s working on relief.
He doesn’t understand. And he’s not doing enough.
So, if you had big plans for a road trip, you might want to put it on hold or add a few extra hundred dollars to your budget.