IMAGE|
Since the beginning of this year, gas prices in the U.S. have risen by an average 60 cents per gallon, or roughly 30% based on prices in 2023. Currently, gas prices in Russellville are averaging at $3.15 per gallon and are continuing to rise, causing students at Arkansas Tech University to think twice before taking a drive.
“As a commuter student at ATU, gas prices can put a strain on my finances,” Blakely Williams, a sophomore majoring in agriculture business – horticulture said.
“Although I have one of the shorter commutes compared to other students, I still dread going to the gas pump and watching the price rapidly climb.” The recent spike in gas prices can be attributed to a multitude of causes, including the war between Russia and Ukraine causing oil prices to surge in 2022, record high inflation in the U.S. and the yearly rise in prices caused by high demand in the spring.
Moreover, the Biden administration canceled many oil drilling contracts during their first year in office, shifting toward a primary reliance on oil imports. This resulted in the price of gas being consistently above the overall average during the 2020-2024 period, even with oil being released from the federal reserve and the ban on drilling contracts being eased.
While there is a massive push from the current administration to switch to using green energy such as solar panels, wind turbines and electric vehicles, the technology does not seem to be keeping up with current energy demands. Furthermore, according to Kelly Blue Book, the price for an electric vehicle in the US is roughly $50,000, making it unreachable for a majority of Americans.
At the moment, gas prices are continuing to trend upward and it is expected that they will further increase in Russellville due to the traffic for the upcoming solar eclipse.
