Profits for the Rich, Inflation for the Poor

As oil and gas companies make record profits, gas prices continue to rise. From 2021 to 2023, the country’s top-10 wealthiest of these companies made a combined net income of $313 billion. Average gas prices have now reached $3.34 per gallon, costing people $40 to $50 to fill up their car tank. But, in some places, like California, it is much more expensive. Companies excuse their ridiculous prices on increased demand during spring and summer months and refinery shutdowns. This is meaningless when the gas industry is cashing in hundreds of billions of dollars. Why should ordinary people-already struggling to pay for food and housing-have to bear the brunt of this profiteering?