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Gasoline prices are displayed outside a gas station on November 23, 2021 in Los Angeles, California. President Biden announced a plan to release oil from the Strategic Petroleum Reserve in an effort to curb high gas prices.

Over the weekend gas prices have hit an all-time high again with the average reaching over $4.37. But as Gas prices rise, oil prices are seeming to drop according to CNN. With the rising of the price of gas, families are finding it harder and harder to provide for the family as inflation effects start setting in for more middle-class Americans.

The price of gas was considered to already be at its highest rolling into 2022, which CNN attributes to supply not recovering from Pandemic era supply issues. This tackled with the Russia and Ukraine war and the executive order to cut the Leystone pipeline Americans have not been ready to face the full brunt of the effect. The Biden team has made an attempt to lower prices by releasing strategic reserves but the overall change was barely felt. The rising gas prices have garnered the attention of many Americans as they correlate it with a failing economy.

CNN experts believe there is a calm coming through this storm as Oil prices dropped on Monday. The steep decline marked one of the deepest drops in recent months as U.S Crude oil dropped 6.1% overall. [Source CNN]

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Investor’s Edge with Gary Kaultbaum can be heard on weekdays on MoneyTalk 1010. Gary Kaltbaum is a registered investment advisor with more than 30 years of experience in the markets. He is the owner and President of Kaltbaum Capital Management, a financial investment advisory firm headquartered in Orlando, Florida. He is a Fox News Channel Business Contributor regularly appearing on Fox News Channel and the Fox Business Network. In addition, Gary is the author of the book “The Investors Edge” and the host of a nationally syndicated radio show with the same title, “Investors Edge,” broadcast on numerous stations across the U.S. The show is also available on-demand and airs live 6-7 pm EST Monday-Friday. You can hear past shows online at garykaltbaum.com.

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