Gas prices are higher than ever, and with tensions on the rise between Ukraine and Russia, there doesn’t appear to be an end in sight. kenandraughorne and hugomartin explain why prices are expected to surge even more.
Russian President Vladimir Putin’s advances in Ukraine have put President Biden and the U.S. economy between a rock and a hard place.Now, many forecasters are expecting the average price to top $5 a gallon sooner rather than later.
Chief among the reasons for the nationwide climb in gas prices is the threat of military conflict between Russia and Ukraine.
California maintains its own standards around the formulation of gasoline sold in the state, rules that are intended to reduce pollution. The cleaner gas is more expensive to produce, and few refineries outside the state are able to make it. There are also no interstate pipelines carrying gasoline into California, meaning all imports must come by ship or truck, both of which are more costly.
The jump in fuel prices comes as Californians start planning for spring break vacations. Road trips have become increasingly popular travel options since the start of the COVID-19 pandemic, but rising gasoline prices may tilt the balance toward air travel or so-called staycations.
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