Long lines at the gas pumps are beginning to appear.

It's like the 1970's all over again.

But this time it's a slightly different reason.

Back in the 1970's OPEC put the squeeze on oil and we wound up with a shortage.

There were also concerns, back then, that they would run out of oil by the year 2000 (or so the "EXPERTS" said).

Obviously, that was one of many predictions that never came true.

But this time people are lining up at those gas pumps to try and get today's cheaper price before it jumps another 7 to 10 cents.

The price of diesel went up even higher than that.

That's no exaggeration.

Tired man sleeping in car during travel
Getty Images

While you were sleeping, between Wednesday night and Thursday morning (03/09/2022 - 03/10/2022) the price of a gallon of gasoline jumped 7 cents.

I'll admit I've topped off my tank a few times long before I needed to just to beat the next day's price hike.

For that matter, some people have already seen prices rising while they were waiting at the pump.

If we are not careful this could end up being like the great toilet paper shortage of 2020.

Worse yet, remember the last time we had problems at the pump there were people actually trying to take plastic grocery bags of gasoline home in the trunks of their cars.

Below is a video from Miami.

People have not reached panic mode yet but aggravation is beginning to set in.

At some point, total frustration and plain old STUPID will take over.

You remember what that looks like, don't you?

If people were dumb enough to hoard like that last time, imagine what they are going to do now.

YEAH, that was a really sad sight to see.

How bad this problem has become depends on where you live.

Take a look at the GasBuddy.com heat map and you'll see folks in California have it the worse by far.

When you look at the difference in prices, that you see on this map, it's primarily because of local government rules and regulations, plus taxes on gas.

The lower the regulations and taxes the lower the prices at the pump.

attachment-GasBuddy heat map

To give you another way to look at how fast gas prices are spiking, let's look at a chart from GasBuddy.com that shows the ups and downs of prices over the past few years.

This link gives you access to the GasBuddy interactive map.

You can't help but notice the upward tick then the sudden SPIKE on the right side of the graph.

Boycotting oil from Russia is about to make that line to up a light higher than it already is. People know this. That is why they are filling up now.

attachment-GasBuddy retail price jump chart

Just like in the 1970's the price and availability of fuel is not due to any shortage.

It is a direct result of the government meddling in the marketplace.

Every time government promises to fix the problem they make it worse.

The only time things get better is when they get out of the way.

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