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Gas price averages $5.69 a gallon in Santa Barbara County KENNETH SONG/NEWS-PRESS PHOTOSGas prices go past $6 a gallon at the Chevron gas station at Hollister Avenue and Glen Annie Road in Goleta.
By CASEY HARPER
THE CENTER SQUARE SENIOR REPORTER
(The Center Square) — Gas prices and inflation hit yet another high this week, raising more concerns about the impact on regular Americans and the future of the U.S. economy.
The Bureau of Labor Statistics Thursday reported that the Consumer Price index, a major marker of inflation, rose 7.9% in the previous 12 months.
“The 12-month increase has been steadily rising and is now the largest since the period ending January 1982,” BLS said. “The all items less food and energy index rose 6.4%, the largest 12-month change since the period ending August 1982. The energy index rose 25.6% over the last year, and the food index increased 7.9%, the largest 12-month increase since the period ending July 1981.”
Rising food prices were a major source of the overall increase and a serious pain point for many Americans.
The Mobil gas station at the corner of Glen Annie Road and Calle Real in Goleta posted gas prices exceeding $6 a gallon Thursday.“The food at home index rose 8.6% over the last 12 months, the largest 12-month increase since the period ending April 1981,” BLS said. “The index for meats, poultry, fish, and eggs increased 13% over the last year as the index for beef rose 16.2%.”
According to the American Automobile Association, gas prices have risen to a new high with a national average of $4.32 per gallon, up from $2.82 the same time last year.
California has consistently stayed above the national average. On Thursday, the average price in the state and specifically in Santa Barbara County was $5.69 per gallon, according to AAA.
In fact, the News-Press found two Goleta stations where the prices exceed $6 a gallon. The Mobil gas station, at the corner of Glen Annie Road and Calle Real, was selling gas at approximately $6.40 a gallon. And at the Chevron station at Hollister Avenue and Glen Annie Road, gas was priced at approximately $6.39 a gallon.
Gasbuddy.com reported cheaper prices, at around $5 a gallon, at various stations in Santa Barbara, Goleta, Solvang, Guadalupe and Lompoc.
Experts point out that gas price increases have contributed to making all goods more expensive.
Fuel Depot in Old Town Goleta is known for its lower prices, but it too was affected by the rise in gas prices, with unleaded gas selling for around $5.50 a gallon.“Thanks to the Biden administration’s policies, inflation is a growing tax hurting all Americans,” said Joel Griffith, an economic expert at the Heritage Foundation. “A married couple with $6,000 of monthly expenses — such as groceries, gas, housing, clothing, and other household needs — is now overwhelmed, with $480 in increased monthly costs dwarfing average wage gains. For a typical family, the inflation tax means a loss in real income of more than $1,900 per year.”
Mr. Griffith argues the problem will only grow worse as the Biden administration increases spending and holds back domestic energy production.
“Now is the time for the Federal Reserve to stop its rampant printing of money and for the federal government to halt reckless spending. Both exacerbate inflation,” he said. “Unfortunately, lawmakers are trying to push through a 2,741-page omnibus bill that spends $1.5 trillion and includes 367 pages of special-interest earmarks.
“In addition, this administration continues to suppress economic output and productivity with its delusional policies, such as blocking access to abundant energy resources. These actions will certainly benefit the politically connected and elite special interests but will make economic struggles worse for working Americans.”
President Joe Biden has pointed to the Russian invasion of Ukraine as a key reason for the gas price increases. He banned the importation of Russian oil earlier this week as a measure to help “defund” the war against Ukraine.
“The decision today is not without cost here at home. Putin’s war is already hurting Americans at the gas pump,” President Biden said in his announcement of the ban. “And with this action it’s going to go up further. I’m going to do everything I can to minimize Putin’s price hike here at home.”
Critics, though, point out that gas prices have steadily increased in the past year.
“For months before the Russian invasion of Ukraine, the Biden administration watched as their polices punished our domestic energy production, drastically raising prices across the board,” said Daniel Turner, head of Power the Future, an energy workers advocacy group. “Today they are trying to pin all the blame on Putin, but the American people are not falling for it. Biden has made overtures to Iran, Venezuela, and Saudi Arabia to increase production.”
Critics are calling for an increase in domestic energy production, which was hindered by President Biden’s early decisions on pipelines and drilling permits.
“The only one (Biden) hasn’t reached out to is the American energy industry,” Mr. Turner said. “If he would only take away the burdens he has placed on us, we could see a huge reduction in costs and inflation as we ramp up production. But Biden would rather appease the radical green movement than admit the failure of his policies.
“We need a president who doesn’t see American industry as the enemy,” he added.
Casey Harper works at The Center Square’s Washington, D.C., bureau.
News-Press Managing Editor Dave Mason contributed to this report.
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