Gas prices rise across the nation, oil prices continue to tick up
The national average for a gallon of gas has spiked to $3.53, a four-cent rise over recent days.
Potential conflict in Ukraine has caused a ripple effect on the oil market, according to AAA.
Gas Buddy reports some stations selling gas for as little as $2.85 per gallon in the greater Baton Rouge area. Warehouse clubs Costco and Sam's Club are selling gas at closer to $3.
As of Feb. 22, U.S. motorists are paying an average of $3.53 per gallon on average. The average is 21 cents higher than the prior month, and 90 cents more than a year ago.
As pointed out by AAA, a Russian attack would result in financial sanctions by the U.S. and its allies. Russia could retaliate by withholding oil from the world market, which has already been struggling to meet demand amid COVID-19 slowdowns.
“Russia is one of the leading oil producers globally, behind only the United States and Saudi Arabia,” AAA spokesperson Andrew Gross stated in a news release. “And if they choose to withhold their oil from the global market, such a move would eventually be reflected in higher gas prices for American drivers.”
AAA reported the nation’s top ten largest weekly increases: Ohio (+10 cents), Maryland (+8 cents), North Carolina (+7 cents), Minnesota (+6 cents), Nevada (+5 cents), Louisiana (+5 cents), New Hampshire (+5 cents), Arizona (+5 cents), New York (+5 cents), and Hawaii (+5 cents).
The nation’s top ten most expensive markets: California ($4.74), Hawaii ($4.51), Oregon ($3.98), Washington ($3.98), Nevada ($3.95), Alaska ($3.85), New York ($3.75), Pennsylvania ($3.73), Washington, D.C. ($3.72) and Arizona ($3.71).