You may have noticed that your kids’ gradation balloons were a little more expensive this year. It’s due to a worldwide helium shortage that has rocked the global landscape.
The helium shortage has led to a price surge of the gas, a contributing factor in the closure of 45 Party City stores across the U.S. this year alone.
There have been three major helium increases since December 2018. A tank of helium used to cost around $130, now it’s up to $275 a tank.
But it extends far beyond balloons and squeaky voices, helium is needed in MRIs, semi-conductors and NASA’s rocket fuel engines.
“You are basically paying right now for a truckload of helium, $900,000 to a million dollars … Going forward, this is a boom commodity growing by about 7 percent every year,” Gianni Kovacevic, chief executive officer of CopperBank said.
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