As we approach presidential elections, it is a common practice for the party in power to do all it can to improve the economic lives of voters, and take credit for it. This includes keeping fuel prices down, because these prices affect so much or our economy and the well-being of our citizens.
However, it appears that this presidential election season will be different. The Biden administration is either unable or unwilling to convince OPEC members to ease up their quotas in order to stabilize or lower fuel costs in the upcoming months.
On Sunday, June 2, the members of OPEC met and agreed to continue the current level of production restrictions well into 2025. These quotas, along with Biden’s obstacles to domestic production, will pretty much guarantee that fuel prices will remain at the current high levels.
The following chart was provided by GasBuddy.com, a company that specializes in tracking fuel costs. Notice the roller-coaster ride that we have had since 2021. The trend right now is downward, but the OPEC decision is very likely to cause that downward trend to level off.
Maricopa County has a greater exposure to gas price spikes because of EPA regulations. We currently have only two gasoline blends that may be used in Maricopa County. If there is a refinery or distribution problem, shortages will occur and prices will spike. We have seen that happen several times in the last few years.
During this legislative session, Senator Wadsack introduced Senate Bill SB1064 – gasoline formulations; air quality., aimed at providing an array of solutions to the supply issues we have been experiencing. That bill cleared the Senate when all Republicans and one Democrat voted for it. However, it has been stuck in the House, waiting for a Third Reading vote since April 24.
If SB1064 were to be approved in the House, it would still have to come back to the Senate for a Final Vote. Based on the current legislative schedule and agendas, this is not likely to happen.
just more tax deductions for working folk
Sucks being an American right now. Stolen elections have real consequences.
this administration? Help America? Get a life! Probably lucky we till speak English!