I recently spoke with a family member who lives in Philadelphia, who says she’s spending a little more than $400 a month just for auto gas. This family member works for the state of Pennsylvania, and is blessed to have a state vehicle to use during her work hours. There’s very strict rules attached to having the state car, which this family member is allowed to drive home at the end of their work day. However, that state car cannot be utilized for personal errands. Period. So once the family member gets home from work, they-of course–adhere to the rules of their job. They only use their personal vehicle for the rest of their day, on weekends, or whenever they’re not working. Since the gas prices have gone up again, they are spending about $400 a month these last five months just to gas up. In Philadelphia, up until the last couple of weeks, a person had to spend about $5.00 a gallon for regular gas. Don’t even think about what Premium gas was costing, which is the kind of gas you have to use in most luxury vehicles.
President Joe Biden’s Administration is breathing a sigh of relief that finally we can now see gas prices lowering. I spoke with Heather Boushey, a member of the President’s Council of Economic Advisers. She offered an overview for where we stand right now with gas prices in America. Heather Boushey stated, “What we have seen for the past 48 days gas prices have fallen every day straight for an average of 81 cents per gallon. That’s almost seven or eight weeks of decline and what that means is that at current prices, the average driver will spend about $40 less each month than they would save if gas prices had stayed at their peek. That’s significant savings for families. That’s money in people’s pockets, helping them make ends meet,” Boushey added, “We had seen the price of oil falling starting some weeks ago. It typically takes some time for the drop in global oil prices to get reflected at the pump, its good that is finally happening, and consumers are getting some much needed relief. There are 19 or so states where the average price of gasoline is less than four dollars per gallon. But there are many states, particularly on the West coast and up in Alaska, where gas prices remain higher than that. We have seen gas prices falling all around the country. There are tens of thousands of gas stations, about half of all gas stations in America, where gas is less than four dollars a gallon.”
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