Nevada’s average gas price is currently one of the highest in the nation, topping out at $5.58. They are in the same company as states such as Washington, California, and Oregon, to name a few. All this is due to oil prices remaining high and normal economic factors.
“Oil prices are the number one driver of prices; the rest is supply and demand,” said John Treanor, spokesman for AAA Nevada.
Supply issues continue for the United States since Russia is the second highest contributor to crude oil in the world. Yet, due to their actions in Ukraine, sanctions have been placed against them, cutting off that supply.
Demand continues to rise during the summer months as people continue to travel for vacation while their children are out of school for the summer. With Nevada being the place to travel for the young and old, demand remains high in the state.
President Biden continues to push for a federal gas tax holiday. Yet, most other Democrats continue to go back, saying that it won’t save people a lot of money and it will only make the oil companies more money. So, the likelihood of a Federal gas tax holiday is slim.
With supply being low, demand continuing to be high, and the leaders of our country refusing to look for ways to help, it is expected that gas prices to remain high throughout the summer.
What do you think? Would the gas tax be helpful? Do you think prices will go down sooner? Share in the comments below, and share this post with your friends.