Russia’s Invasion Of Ukraine Sharply Increases Gas And Oil Prices

March 4, 2022

The price of gasoline, which had slowly moved higher since the start of the year, shifted into overdrive this week as Russian forces fought to take over Ukraine.

In the U.S., nearly every state experienced a double-digit increase in gas prices.

AAA’s daily fuel price survey shows that the national average price of regular gas is $2.83 a gallon, an increase of 26 cents a gallon in the last seven days and a 10-cent increase since Thursday.

The average price of premium gas is $4.38 a gallon, 20 cents more than last week. The average price of diesel fuel is $4.26 a gallon, 29 cents a gallon higher than a week ago.

Gasoline prices are surging because the price of oil has risen sharply in the wake of Russia’s invasion. It’s expected that Western sanctions against Moscow will reduce the amount of Russian oil sold on world markets.

On Twitter, GasBuddy’s Patrick DeHaan reported that the average price of gas had broken $5 a gallon in San Francisco. Within hours of DeHaan’s post, the average price of regular rose past $5 a gallon for the entire state of California.

DeHaan said GasBuddy had raised its “forecast for the yearly national average to $3.99 gallon from $3.41, with the average household to spend $2,745 on gasoline, up from $1,977 in 2021.”

By submitting this form, you are consenting to receive marketing emails from: Harlem World Magazine, 2521 1/2 west 42nd street, Los Angeles, CA, 90008, You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

AAA reports that another driver of retail gasoline prices is rising demand from U.S. motorists, which is occurring while fuel supplies are declining.

New York is one of the States with the most expensive gas these states currently have the highest prices for regular gas, according to AAA.

We're your source for local coverage, we count on your support. SPONSOR US!
Your support is crucial in maintaining a healthy democracy and quality journalism. With your contribution, we can continue to provide engaging news and free access to all.
accepted credit cards

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Related Articles