Gas prices surge nationwide
CHATTANOOGA, Tenn. (WDEF) – President Trump announced Monday morning, following a phone interview with CBS News, that he plans to suspend the federal gas tax for a period of time.
According to AAA, studies show gas prices have skyrocketed more than 50 percent since the start of the Iran war.
On Sunday, prices reached more than $4.52 per gallon.
Experts say, however, that gasoline may not be the only growing concern for consumers.
Tom Kloza, Chief Energy Advisor for Gulf Oil, explained that diesel prices could soon have a widespread impact on inflation nationwide.
“Diesel’s a much more serious problem at the moment,” Kloza stated. “Diesel prices are probably going to reach an all-time record here in the next two weeks, and that is going to impact every nook and cranny of inflation.”
Meanwhile, while the President denied a bailout for U.S. air carriers, Spirit Airlines shut down earlier this month.
Analysts are encouraging travelers to plan ahead, as they predict airline ticket prices will continue increasing throughout the summer.
Experts say rising fuel and transportation costs could continue putting financial pressure on families nationwide in the months ahead.
