FWIW, last time I got gas was $2.26 a gallon in late December or early January. Today, around the corner from my house, $2.06. South Carolina, which is supposeldy cheaper because it's a red state, $2.32.
This is just the start of a massive gas price hike. The US closed tons of oil wells due to COVID and lack of demand. Those things don't just spring back up overnight as demand recovers. People are going to be travelling massively this summer with vaccinations well underway and a return to some normalcy. Oil supply simply will not keep up with demand. Sure, some oil wells will come back on-line...but many will not. Why? The big gas/oil companies profit more when prices are higher, so they'll keep supply artificially low. But moreover...quite a few smart people believe 2019 was the year of "Peak Oil" across the globe, and that demand will only decrease as time goes on. So why bring up the supply when you know you'll be cutting it back in the somewhat near-term?
And I know this ain't the Podium but I doubt the current administration has any interest in trying to keep gas prices low as they want all us driving electric cars and preach about "zero emissions" and "reducing our carbon footprint". Now these are great things of course in the long-term but there's going to be SERIOUS pain at the pump til we all get on that bandwagon.
The current price hike is because of recovering demand with COVID but also all the disruptions to the supply down in Texas, and the fact that much of the US is having a colder than normal winter, increasing the demand for heating oil.
I'm not thrilled about all it. Over the summer I traded in my compact sedan for an old Rav4... gets about 8-10mpg less than the Hyundai I had. Truthfully I consider myself relatively in-tune to the whole marco situation but I think prices will spike much higher than I had thought. Prices for regular gasoline are going up 3-5 cents a gallon every single week. Come summer we'll be at a $3 national average at least. Ouch.