The price of a gallon of gas has climbed in the aftermath of Russia’s invasion of Ukraine. Russia is a major producer of oil.[nytimes.com – 2022.03.07] Gas prices, which have been steadily rising for weeks as the conflict in Ukraine has escalated, hit a new high in the United States on Tuesday.
The average price of a gallon of regular gasoline reached $4.173 on Tuesday, according to AAA, surpassing the previous high in July 2008, when the national average was $4.114. The prices are not adjusted for inflation.
Tuesday’s average represented an increase of about 72 cents from a month ago, including about 55 cents in the past week.
President Biden on Tuesday announced a ban on importing Russian energy into the United States.
U.S. consumers have been feeling the squeeze, even though the United States imports relatively little oil directly from Russia. In California, prices for some types of gas hovered around $6 in previous days; on Tuesday the state average was well over $5. Mr. Biden has tried to brace Americans for the sticker shock. In a February press briefing before Russia’s invasion of Ukraine, he said: “I will not pretend this will be painless.”