Here’s How Much U.S. Gas Prices May Spike Due to Russia-Ukraine Conflict

by Shelby Scott
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Early Thursday morning, the Russian military launched unprovoked air raids on neighboring country Ukraine. Amid already rising fuel prices, Americans can expect an even greater increase in the cost of gas. Outsiders across the U.S. should also expect to see an increase in the costs of restaurants, retail, and, potentially, flights.

The ongoing conflict sees the deaths of more than 100 individuals, with collateral damage injuring more than 300, near the Russian/Ukrainian border. But the side effects of Russia’s militaristic actions will surely impact the U.S. and nations worldwide.

Cost of Living to Skyrocket

AAA spokesperson, Lori Weaver Hawkins, shared with WSAZ, “We have already been seeing prices go higher this year,” explaining, “that is in part in anticipation of this occurring.”

As per AAA’s spokesperson, Americans should expect gas prices, and more holistically, crude oil prices–used for diesel, transportation, and more–to rise amid the current conflict.

As such, an already thinly supplied global market, resultant of supply chain issues, will heighten the effects of increased prices. While consumers can expect to spend more on transportation overall, Hawkins added, “Because of the higher cost of crude and tighter supplies on the world market, we are going to see prices rise at retail locations [and] restaurants.”

The news outlet featured comments from West Virginian locals, who expressed their concerns regarding an increasingly expensive global market. Christopher Young shared, “If these prices keep going up, I don’t know what anyone is going to do.” He added, “It is going to be where nobody is going to be able to afford gas. You go around the corner and you put $10 in. You don’t go anywhere.”

Meanwhile, prominent governing bodies within the U.N. express extreme contempt for Russia’s latest actions. And as a result, Hawkins predicted Americans will likely see the overall cost of gas rise above $4 very shortly.

L.A. Gas Prices Soar Well Beyond $4

Rising gas prices are to be expected among ongoing inflation tied to Russia’s bombardment of Ukraine. However, in one extreme case, a Los Angeles gas station‘s prices rose well beyond $4 this week. The price per gallon skyrocketed past even $6 at a city-central Chevron station.

With no immediate solution in sight, Outsiders across the U.S. wonder how they’ll continue to afford regular transportation.

Lately, the cost of gas, while elevated, remained near a relatively affordable $3.50 per gallon. That said, however, the overall increase in the price of petroleum has surged a significant 90 cents since last year. That elevation was previously tied to the shortages resultant of the ongoing COVID-19 situation.

And while reports put Los Angeles county gas prices around $4.79 per gallon, already surpassing that $4 landmark mentioned above, well-to-do areas and popular city centers see prices surge ever higher.

Now, global markets will see a major conflict with the massive nation’s oil supply outlets. While the U.S. and Saudi Arabia remain the world’s top two leading providers for oil, Russia ranks third.

And with the majority of the U.N. openly condemning Putin’s unprovoked attack on Ukraine, we’re more than likely to see global access to oil significantly decrease.

Outsider.com