After a year of uncertainty and instability in the market created by COVID-19 and a global shutdown, we are starting to see signs of a return to normalcy. Over the past 8 weeks there has been a gradual decline in COVID-19 cases nationally. According to Bloomberg business, “retail gasoline sales rose last week to just 1% below year-ago levels, just before regional lockdowns brought fuel consumption to a crawl.”
On March 19th the Biden administration had stated that they expect to reach their goal of 100 million vaccines doses administered, and the president urging more Americans saying, “We need millions more to get vaccinated,” this should also embolden more Americans to start traveling again during these upcoming summer months. Many starting to see the light at the end of the tunnel when it comes the markets being affected by the COVID-19 pandemic.
Over the last year many of our lives have been uprooted by changes we were asked to make to be able to fight this global pandemic. These changes were drastic with many being asked to work while teaching their children, others lost jobs, homes, and 500,000 people their lives. With this increase in the retail sales of gasoline accompanied with the 100 million vaccine milestone, this is providing a bright outlook for the coming months.