Rising gas prices raise conversations of third stimulus
/The world has entered a period of global crisis triggered by Russia's invasion and threats against peaceful neighbor Ukraine. American consumers are being asked to sacrifice their wallets in response to rising gasoline prices. The nation needs a stimulus check after so many sacrifices were made.
Gasoline and oil are crucial to the worldwide economy. Russia is one of the most important suppliers of gas and oil to Europe and the United States. There is no doubt that Russia is pushing Ukraine to its very limits during this unfortunate event, and the rest of the world is beginning to feel the effects as conflict persists.
As a result of the ongoing conflict between Russia and Ukraine, Joe Biden made the decision to stop importing oil from Russia. This is the main factor in the sky-high gas prices in America right now, and it’s just another reason for the American government to step in and help its citizens before they sink under the weight of these new expenses.
Every household’s spending varies by family or individuals based on priorities. With the sudden rise in fuel prices, many families and fellow citizens are cutting personal spending on other expenses. Some people are deciding to drive less and are only traveling if it’s necessary. The average household is impacted by inflation by $276 per month and $1,100 a quarter, according to Moody's Analytics. The nation's inflation rate ended in January at 7.5%. The price of gasoline has risen $4.25 per gallon in the past week; they have risen $2.86 since Monday. Fuel costs approximately $85.50 to fill a 20-gallon tank. It is quite outrageous, but when it comes to keeping their days going, many people are willing to pay any price for gasoline and oil. Nonetheless, the price does become a burden at a certain point.
In the early days of the COVID-19 pandemic, the federal government provided many Americans with stimulus checks to soften the blow of pandemic-borne financial struggles. The government also morphed unemployment systems to accommodate the newfound, country-wide lack of job security. This was called the “American Rescue Plan'' and has since run out at this point. Despite the inflation and unprecedented events in the world today, the United States federal government has not provided direct assistance to families in dealing with the rising gasoline prices.
On March 8, President Biden challenged the American people to increase their energy independence. Even so, the United States is not yet prepared to make the transition to green energy, and it would not be as simple as it may seem. Many low and moderate-income families and small businesses benefited from the previous stimulus checks. Allowing them to afford necessities such as food, medicine, and gasoline. When inflation continues to rise, these families may have to make even greater sacrifices if the government does not lend them a hand.
The United States government provided citizens and families with any amount they needed based on their income during the pandemic. The United States prides itself on stepping in first when the going gets tough. The country is always first to assist, fight, and overall support. Nevertheless, to keep helping other countries, Americans also need to support themselves. Even a small amount of stimulus check will go a long way.