South San Francisco, CA March 10, 2022
Local gas prices, as well as those across the country – and the globe – have increased dramatically and it doesn’t appear they will be coming down anytime in the near future. While many are suffering from sticker shock at the pumps, others are recognizing how these gas prices are impacting goods and services on things we use daily. Items ranging from wheat products to dairy, from home goods and tools, all incur transportation costs at a time when our southern ports are backlogged, adding more disruption to our supply chain.
What has been the biggest sticker shock you’ve seen to date?
What prices have boggled your mind?
What items are you finding hard to find?
Last evening South City resident and photographer ROGER CAIN checked out some of the gas prices in our area. “The highest-priced regular at $6.39 was the new Chevron across the street from See’s Candies” Roger reports. ” And the Diesel at $6.97 was at Olympic next to Orange Ave and El Camino Real. On San Bruno Avenue the Diesel was listed at $6.99″
To validate what it is we are seeing, check out the inflation rates listed below by the US Bureau of Labor Statistics:
Annual inflation rate in the US accelerated to 7.9% in February of 2022, the highest since January of 1982, matching market expectations. Energy remained the biggest contributor (25.6% vs 27% in January), with gasoline prices surging 38% (40% in January). Inflation accelerated for shelter (4.7% vs 4.4%); food (7.9% vs 7%, the largest since July of 1981), namely food at home (8.6% vs 7.4%); new vehicles (12.4% vs 12.2%); and used cars and trucks (41.2% vs 40.5%). Excluding volatile energy and food categories, the CPI rose 6.4%, the most in 40 years. Still, the surge in energy costs due to war in Ukraine is still to come. The inflation was seen peaking in March but the recent developments in Europe coupled with the ongoing supply constraints, strong demand, and labor shortages will likely maintain inflation elevated for longer. source: U.S. Bureau of Labor Statistics
CLICK HERE for more information on the graphics below