High gas prices are just the start. The ripple effects of other commodity prices, particularly of grains, have already started to hit pocketbooks worldwide
If schadenfreude is your thing, you may welcome the fact that while we rage at high gas prices, and erroneously blame President Joe Biden for them, gas prices in Europe are much more exorbitant. Europeans are paying up to 34%morefor gasthan we are, according to GlobalPetrolPrices.com. Per gallon, Austrian are paying $7.12. In France, it’s $7.30, Italy $7.59 and in England, it’s $8.10. Current pump prices can be blamed on OPEC cutbacks on oil production, and flawed household budgeting that assumed market prices for fuel would never rise to where they are now, much less higher. The ripple effects of other commodity prices, particularly of grains, have already started to hit pocketbooks worldwide thanks to Vladimir Putin’s war on Ukraine.
