A Seven-Year High for Gas Prices

Recently gasoline prices hit their highest since 2014.¹ With the Colonial Pipeline outage in the rear-view mirror and an ever-increasing number of adults vaccinated, formerly cooped-up motorists have made the most of what America has to offer. The average price jumped to $3.04 per gallon ($1.08 higher than last year’s lockdown prices), and oil prices have continued to demonstrate high demand. The Wall Street Journal noted a two-year peak on June 1, indicating prices exceeding 2019’s records.^1,2

These new peaks are a sure sign that things in America are returning to something like normal. While there’s still a way to go, these indicators point us in the right direction. While we’ll all miss the cheaper prices at the gas pump, it stands to reason that there’s a summer out there to be enjoyed.

<sup>1. CNBC.com, May 27, 2021
2. Wall Street Journal, June 1, 2021</sup>

^{The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite, LLC, is not affiliated with the named representative, broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.}