Soaring Gas Prices Hit Workers Wallets

Soaring Gas Prices Hit Workers Wallets

Gasoline prices have been on the rise in the United States over the past several weeks, and it is hitting the wallets of commuting workers. The national average price for regular gas was $4.26 per gallon, up from $2.88 over the past year. Based on the current U.S. federal minimum wage of $7.25, a minimum wage worker would spend nearly their entire daily wage to pump 12 gallons of gasoline. 

The increase in gasoline prices comes as employers across the country are implementing return-to-work policies for many workers. 

The increase in gasoline prices do not only contribute to commuting workers paying larger prices simply to arrive at work. Independent contractors for ride-sharing and delivery companies such as Uber, Lyft, and Doordash are also strained by the rising gas prices which significantly impact the cost of transportation.

The increase in prices have hit the lowest-wage workers the hardest while the capitalists continue to profit. As always the negative repercussions of economic policy are borne by the workers while the oligarchs continue to reap massive profits. Major oil and gas companies amassed $205 billion in profit last year, and they expect to do “even better” in 2022 with the rising prices boosting revenue. 

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