Higher gas prices are eating into Trump tax cut, trimming spending by Americans. Rising global oil prices are hiking the cost of gasoline for Americans, blunting the benefits of the Trump tax cut on consumer spending. That may push U.S. Economic growth below the president's 3% goal. Source 5l.
Here in BC we pay an average of $4.57 per US gallon. It's absurd that I can go across the border (20 minutes drive) and buy gas at $3.20 per. You think YOUR taxes are high?
I hope the hike is not going to spike up to the ridiculous $100+ per barrel like it was a few years ago. Since there is peace in the Pacific there should be no need to boost oil prices.
International Level: Specialist / Political Participation: 39 3.9%
Oil prices surging — and that means gasoline prices are going up, too. Crude oil prices have hit their highest levels in nearly four years and that means motorists are paying more for gasoline just as the upcoming Memorial Day weekend moves the summer driving season into high gear, pushing the price at some stations in San Diego over the $4 a gallon mark. Source 9d.
Gas prices here are $2.60ish. To make people use less gas and force society to travel less (And restructure massively) we need to stop having the government subsidize oil extraction, and add a pollution tax to gasoline. This way what we pay at the pump will reflect the economic cost of gasoline consumption. Then the free market will do its magic job.
International Level: New Activist / Political Participation: 12 1.2%