Russian-Ukrainian War Continues to Increase Gasoline Prices to Over Six Dollars

Russian-Ukrainian War Continues to Increase Gasoline Prices to Over Six Dollars

As gas prices all over the country increase daily, people become furious and begin to consider the choice of an electric vehicle, as these are the most expensive prices the world has seen by far. California prices continue to spike even as the national average has been falling slowly but steadily for the last two weeks,” according to CNN.

On February 24th, the President of Russia, Vladimir Putin, led an invasion of Ukraine, a European country previously ruled by the Soviet Union during World War I. People have theorized that Putin wanted to piece the Soviet Union back together, starting with Ukraine. 

The North Atlantic Treaty Organization (NATO) contains several ally countries that support Ukraine, including the United States of America. Recently, President Joe Biden announced banning certain imports from Russia to decrease funds for the Russian military acknowledging that it would drive up energy prices. “We’re banning all imports of Russian oil and gas energy,” Biden told reporters at the White House, according to Reuters.

Now that Russia is no longer supplying oil for the United States, gasoline is scarce, and prices will continuously rise worldwide. The state of California is already known for its costly gas, and in the middle of March, prices reached six dollars$6 in Southern California. According to NBCLA, a year before the Russo-Ukrainian attack, a gallon of gasoline was only $3.80.

Residents of California are witnessing prices grow by 10 cents every day. Russia supplies much of the world’s crude oil. When supply is low, gas stations have to pay more for oil. As they markup the cost per gallon to make a profit, prices continue to rise. Now citizens are searching for low prices anywhere they can. “Some drivers were even lining up at the Sam’s Club store in Arcadia for $4.29-a-gallon gasoline,” NBCLA mentions.

The U.S. will now be supplying itself with oil from the Strategic Petroleum Reserve to sustain prices for the upcoming months. The search for local oil reserves to be independent of Russian imports in the upcoming months or years will be crucial. As a result, the AAA and locals noticed a slight decrease in the price on March 31st. 

The United States is not the only country affected by gas inflation from the war. European countries are dependent on Russian oil as well. According to FOX 2, Finland, Germany, and Italy are paying over 9 USD per gallon. The European Commission informs Europe’s plan to take on clean, renewable energy by 2030.

Many world leaders are trying to find independence from Russian supplies to discourage the war. Unfortunately, this time will be difficult for many countries and will result in a lasting effect.