Struggling to make sense of the U.S. economy, with trends from persistent inflation to soaring gas prices? Not to worry! The Washington Post hears your cries and has the answers to all your most burning questions:
It is a challenging time to try to make sense of the U.S. economy, with trends from persistent inflation to soaring gas prices creating a feeling of uncertainty for many Americans. https://t.co/uLGTlCVRCz
— The Washington Post (@washingtonpost) June 1, 2022
To help readers get a clearer picture of what’s happening and what could come next, The Washington Post is producing a series of animated guides exploring these important topics in a straightforward, comprehensible way. https://t.co/uLGTlCVRCz
— The Washington Post (@washingtonpost) June 1, 2022
Animated guides? Sweet! Finally, we rubes will be presented with information in a way that even we can understand!
Let’s talk about gas prices, for example. We can’t help but notice that they’ve really skyrocketed in the past several months. But how, exactly, did we get here? How did this happen?
Gas prices have more than doubled in two years, saddling millions of people who drive cars and trucks every day with enormous costs.
What happened?
Everything. https://t.co/JOCJiQyNFs
— The Washington Post (@washingtonpost) June 1, 2022
The economy’s rapid recovery from the pandemic created more demand for gasoline, pushing prices higher. The invasion of Ukraine led to a global backlash against Russia, which produces more oil than all but two other countries. So prices went higher again. https://t.co/JOCJiQyNFs
— The Washington Post (@washingtonpost) June 1, 2022
Wow, we never thought of it like that!
Here’s a timeline.
In February 2020, before the pandemic took hold in the United States, gas prices remained low: about $2.50 a gallon. Filling up a midsize sedan with gas cost around $38. https://t.co/MmGrp780jM pic.twitter.com/yy3teMOxqq
— The Washington Post (@washingtonpost) June 1, 2022
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Then the pandemic hit.
The world shut down. Oil prices fell sharply because there was little demand. Production also slowed. There was simply less need for gas because people weren’t going anywhere. https://t.co/MmGrp780jM pic.twitter.com/FlTxm2b90N
— The Washington Post (@washingtonpost) June 1, 2022
Americans hit the road again in 2021.
Vaccines became widely available, which meant many felt comfortable traveling again, especially by car or van. Demand for gas climbed, but supply couldn’t catch up.
So gas prices rose. It cost $45 to fill up a car. https://t.co/MmGrp780jM pic.twitter.com/W6BhRSrBXm
— The Washington Post (@washingtonpost) June 1, 2022
In early 2022, things seemed to stabilize. Prices went down a little.
But then Russia invaded Ukraine in late February. Prices shot back up. A full tank of gas can now cost more than $70, $80 or $90, depending on your car and where you live. https://t.co/MmGrp780jM pic.twitter.com/y26hWRsvX2
— The Washington Post (@washingtonpost) June 1, 2022
Dammit, Vlad! Everything was getting back on track until you decided to invade Ukraine.
Thanks to Putin — and not to the Biden administration’s energy policies — fewer and fewer Americans can afford to buy the gas they need in order to drive to the grocery store so they can buy half the amount of ground beef they used to be able to buy, assuming they can even find it in stock.
caught the current administration completely off guard, they never saw it coming
— inevitableEvolution (@SeabeeBuckeye) June 1, 2022
We can only hope that when Joe Biden is sitting around his dining room table discussing his lived experience, he saves a little bit of room in the conversation for coming up with gifts he can send to the Washington Post for going to bat so hard for him during these times that are so trying for his administration.
…glad to see you got the @POTUS talking points; doing actual 'journalism' is so passe. 🤡
— Nobu (@Nobu11477113) June 1, 2022
Lmaooooo
Journalism is dead
"Biden did such an amazing job with the economy (which shrank by 1.5% last quarter) that gas prices went up due to so much success. Also Putin." https://t.co/uKaA98jbZ2
— Comfortably Smug (@ComfortablySmug) June 1, 2022
This spin is pathetic, even for you people. 😂
— JP20 (@JP67220) June 1, 2022
WaPo gonna WaPo.
Journalism dies in the Washington Post newsroom
— Quick Time Tweets (@DirkTheDaring3) June 1, 2022
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