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September 25, 2016

Gas Prices Rise, Near Record Numbers

In July of 2008, an American record was set. The record we are talking about was not a new MLB record set in the middle of the season. It also was not a record having to do with the amount of fireworks used in an Independence Day celebration. The record set in that month had to do with gas prices. In July of 2008, the average price for a gallon of gasoline in the United States of America hit a record number of $4.11.

With the recent conflicts in the Middle East and North Africa in oil rich states, the costs of oil and gasoline have both risen quickly and drastically.

In the last two weeks alone, the average cost of gasoline in the United States has increased by twenty cents. The average price of regular gas is $3.76 per gallon in America.

With the American economy hurting and the demand for crude oil in poorer nations increasing, the price of oil and gasoline is growing. Essentially, the demand is growing for a product of which there is a limited supply.

The San Francisco Bay Area is taking the biggest hit. In one of the most expensive regions to live in the entire United States, the average price of gas is $4.13 per gallon. The next highest is Chicago where the price is sitting at $4.11 by the gallon.

In contrast, the Tucson, Arizona region is seeing an average gas price of $3.41 by the gallon. Denver is also near the bottom of the list with a price of $3.49 per gallon.

The price of gas is hurting the pockets of millions of Americans badly. The rising cost is forcing Americans to take more money out of their wallets and bank accounts in order to just have the ability to get to work and pick up their children from school.

Many Americans are seeing huge chunks of their paychecks going to their gas purchases, which in turn is making it more difficult to pay the rest of their bills.

Other Americans are abandoning their cars and riding their bicycles more often or using public transportation in order to save some cash until the gas prices return to reasonable rates.

While the crisis in the Middle East continues, President Obama and the United States government are working frantically to fix the budget and the economy and figure out how to lower the price of gasoline to benefit the American citizens.

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