Gas Prices on the Rise: What’s Behind the Spike?

Will Trump’s Tax Plan Send Gas Prices Soaring?

According to Gobankingrates, Gas prices are going up and up. Many people are feeling stressed because of it. Some people might think that the president is the one to blame, but that’s not the whole story.

If President Trump makes a change to the way we pay income taxes, it could affect how much we pay for things we use every day, like gas. This is because some goods, like oil, might become more expensive. This could make it cost more to refine and distribute oil, which would make gas prices go up.

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The Hidden Factors Affecting Your Gas Prices

Right now, four main things affect how much we pay for gas: the cost of oil, the cost of refining and selling oil, the cost of getting oil to our local gas stations, and taxes. If President Trump‘s plan goes into effect, all of these things might get more expensive. This could make gas prices rise even higher.

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