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How high will gas prices go after Ukraine invasion

  • Scott LaMar
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Airdate: Monday, February 28, 2022

Gas prices were on their way to $4 per gallon even before Russia invaded Ukraine. Now, motorists are asking how much higher prices can go.

For the first time in eight years, the price of a barrel of crude oil went over $100 Thursday after the Russian action began.

Russia is one of the world’s largest exporters of oil. The United States imports hundreds of thousands of barrels of oil from Russia. Economic sanctions may impact those exports and could affect prices worldwide.

Gas prices have been rising steadily — mostly because of supply and demand. More Americans were traveling as the economy recovered from the COVID-19 pandemic.

It is a volatile market right now, but we’ll try to get some clarity on Monday’s Smart Talk from Patrick De Haan, Senior Petroleum Analyst at GasBuddy — a source for gas pricing around the country.

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