The average price of a gallon of gas across the country rose to $2.40 on Monday, according to data compiled by the American Automobile Association (AAA) via The South Florida Sun-Sentinel. That price rise is the highest in 11 months—which seems a bit odd, considering we’re in the midst of the worst part of the pandemic so far. Many businesses are still shut, theaters and restaurants are closed, and millions of people are still working from home. And vacations? Forget about them.
Given all this, Americans are driving less and thus using less gas, not more. So why are prices rising? It comes down to one thing: hope. And that’s why, despite the impact on your wallet, there’s reason to be glad about the rising price at the pump. Read more…..
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CNBC’s Tyler Mathisen talks with Scott Nations of Nations Indexes breaks down how to invest in crude oil right now as crude futures are under pressure.