Jun 11, 2018
Gas prices hit a four-year high this past Memorial Day. The average price for regular gas is about $3.00 a gallon. Compared to $2.40 a year ago, that’s a crushing 25% increase. In certain regions, the increase was even worse. For example, in California, gas averages $3.73 per gallon, compared to $3.10 a year ago.
Everyone driving will pay at least $320 more this year as a result of these skyrocketing gas prices.
The rich will benefit, as always. Not only do higher prices hit richer people much less than poorer ones, many also collect income from the profits of the oil industry.