Food and gas prices are soaring worldwide

The average gas price in the U.S., as of July 17th, is $3.565 per gallon, according to AAA. Most recently, gas prices spiked in early June 2023 after Saudi Arabia — commonly cited as the world’s biggest oil exporter — said it would slash oil production by at least 1 million barrels per day through July. That cut follows OPEC’s April announcement that it would cut overall oil production by 1.6 million barrels per day. As of this week, Americans and the global market should start to see an even steeper incline in gasoline prices and increases in food shortages as well as costs. Russia, Iran, and their allies, especially those involved in the exporting of oil and food grain on a massive, global scale, have either attempted to conquer ships carrying goods on the high seas, or have halted grain exports completely, to and from the Ukraine. These decisions have the potential to ripple mass destruction worldwide because Ukraine usually accounts for at least ten percent of the world's wheat exports. According to experts, gas, oil, and food prices have already shot up within the last week throughout the global market, and are expected to rise exponentially.