For the first time since 2014, the United States oil price has reached 90 dollars a barrel.  This is by far the most expensive oil has been in the last couple of years and it is mostly due to our pandemic. During our pandemic, the number of people driving to work decreased a substantial amount which resulted in people using less oil. As a result, oil prices dropped exponentially which damaged our economy greatly.  Presently, we are still trying to recover from that deep fall which is the primary reason why the prices are so high. Furthermore, the prices are still increasing  “oil seems like it’s going to make a run towards $100 oil pretty soon” 

 

This article overviews how problematic the prices for oil are in today’s day and age. If you ask any person especially in the bay area, they’ll complain to you on how much they are spending on gas. I did an article on the rising prices in the beginning of the year and since then, the prices have reached another 10-15 dollars a barrel. That is a dramatic increase. I understand how we are still making up for how much our pandemic contributed to this but hopefully these prices won’t jump any higher.