Whose fault is it for the ridiculous bullshit inflation going on over here? If anyone is going to blame the orange man or the sleepy man I’d like a good reasoning
It's not just happening in the US, its really bad here as well. In fact from what I see, it's the whole of the developed world. My best guess is part of what we are seeing, is the aftermath of covid regulations, and paying back all the 'free money' that was handed out during covid.
I think the biggest issue though, is the oil companies are raking in as much as they can, pushing fuel prices up knowing their days are numbered with the electric car marching in to replace the combustion engine. Remember, every product you use has been transported multiple times before it reaches you, mining raw materials, the operation of farm equipment, materials going to processing plants, going from processing plants to to factorys, factorys to shops, from shops to your home. In the last year the cost of shipping/handling a container in from overseas to the UK went from an average of £2k to now £12k
The cost of unleaded petrol in the UK is now an average of £1.65 a litre, that's getting on for $8 a gallon, a year ago it was about £1 a litre. The end of last quarter BP announced 9 billion pounds profit.
The price of gas and elecricity has also shot up here, last year I was paying around £120 a month, I'm now paying around £200 a month, it is forecast that come 3rd quarter this year I will be looking at £280 a month.
On top of this, our goverment have added a new tax on everyones salary currently an additional 1.25% - I guess I pay around 25% of my salary to the goverment before I see a penny. Then everything I buy has a 20% Value Added Tax charge built in. Fuel is the most fun, it has an 80% tax on it, so for every £1 - 80p is tax, but what makes it extra special is that £1 has an additional 20% VAT charge, so I pay tax on paying a tax, with money that I've already been taxed on.
Can't remember who said it but they said "the only thing you can be certain of in this life is death and taxes"
So yeah in answer to your question it is the fault of the energy companies, made worse by the pandemic spending. And no, none of it has anything to do with the "war in Ukraine".