Record inflation causing Americans to pay more for almost everything

(NBC)  Record inflation is causing Americans to pay more for just about everything. And with cold weather arriving, fuel costs are spiking nationwide. That means more pain at the pump and for heating your home too.

It’s mid-November in New England and temperatures are falling. Edward Markarian is making the rounds, delivering heating oil and sticker shock to his customers. He said, “As much as I hate to show them the bill, they like they gasp, but they understand what’s going on.”

From the Northeast to the Midwest meteorologists predict a cold winter which could make it an expensive one too.

Prices have already jumped dramatically. Natural gas is up 130% from a year ago. Heating oil is up 59% and prices could move even higher as the months get colder.

From Americans warming their homes to filling their tanks, the national average for unleaded is now $3.41 a gallon, a 7-year high. That’s up from $2.11 last year during the pandemic economic slowdown. And filling up on the West Coast is even worse: $3.87 in Washington, $3.96 in Nevada, and a staggering $4.64 in California.

Some lawmakers are calling on President Biden to tap into the nation’s Strategic Petroleum Reserve. But experts say the nation is largely at the mercy of the global energy markets and that the reserve is only meant for short-term emergencies.

Meanwhile, record inflation could spell trouble for the president’s massive $1.75 trillion social spending package.

Moderate Democratic Senator Joe Manchin is reportedly hinting that he may support delaying a vote on the bill until next year. The senator tweeted this week that the inflation threat is getting worse and D.C. “can no longer ignore” it.

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