Gas stations are apparently running low on gas ahead of the upcoming holiday weekend, the 4th of July. While some gas stations may be sporting the highest prices people have seen in nearly seven years, some may not have any gas at all. The average price for a gallon of regular currently stands at $3.10, the highest since October 2014.
This average is up 2% since Memorial Day, but 42% from a year ago – we all remember when the pandemic restrictions caused oil and gas prices to plummet, showcasing the lowest we’ve seen in quite a while.
Why we’re experiencing such a massive gas shortage
However, the gas shortage has nothing to do with the price or the supply, but rather the shortage of tank truck drivers along with rising demand, causing supply chain bottlenecks and shortages. Tom Kloza, global head of energy analysis for the Oil Price Information Service, says the outages are scattered across the US. This includes places like Pacific Northwest, Northern California, Colorado, and Iowa, along with Indianapolis and Columbus, Ohio.
“It used to be an afterthought for station owners to schedule truck deliveries. Now it’s job No. 1,” says Kloza. “What I’m worried about for July is the increased demand works out to about 2,500 to 3,000 more deliveries needed every day. There just aren’t the drivers to do that.”