Gas prices hit 7-year high as high travel volumes and shortages plague the US

Concerns are growing over sky rocketing gas prices driven by shortages, surging demand and a lack of truck drivers. Some residences of Los Angeles are paying more than $6 per gallon as the national average is over $3.

As AAA estimates that over 43 million Americans will be traveling by car this holiday weekend many are concerned about the sky high prices at the pump. According to the New York Post there are even some reports of gas stations running dry is areas that struggle acquiring gasoline.

"Today, 89 percent of US gas stations are selling regular unleaded for $2.75 or more. That is a stark increase over last July 4 when only a quarter of stations were selling gas for more than $2.25," said Jeanette McGee, a AAA spokesperson. "Road trippers will pay the most to fill up for the holiday since 2014," she continued. "What I’m worried about for July is the increased demand works out to about 2,500 to 3,000 more deliveries needed every day. They're just aren’t the drivers to do that."

A major issue is a nationwide shortage of truck drivers especially those who are certified to haul the dangerous and flammable gasoline. The National Tank Truck Carriers say that up to 25 percent of the trucks used to transport gas to stations are parked due to no qualified drivers. "We’ve been dealing with a driver shortage for a while, but the pandemic took that issue and metastasized it," Ryan Streblow, executive vice president of the NTTC, told CNN. "It certainly has grown exponentially."

GasBuddy’s Patrick DeHaan said that the number of stations struggling with supply and raising prices are increasing, not shrinking. "It’s hard to predict where the challenges are," he said. "It’s just randomized pockets in cities both small and large." DeHaan did not have high hopes for the immediate future adding, "I don’t think demand has reached a peak yet."