Increasing Gas Prices Aren’t Deterring Drivers

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As shown below, gas prices have been steadily increasing, costing roughly $1.22 per gallon more now than a year ago.

This does not appear to be deterring drivers. In fact, strong demand is hitting U.S. stockpiles hard, while production is still slow because of the pandemic, sending the price of crude oil up, according to AAA. Recent reports reveal that the prices of crude oil are currently at a 7-year high.

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