Economy

Gas rises to $5.60 as Ukraine Struggle Continues

Written by Andrew Morris

Gas prices continue to rise this week with the growing war in Ukraine. San Diego reported a record-breaking $5.602 per gallon average, rising 11.9 cents.

This comes as the 20th record in 22 days, as prices continue to rise for more than two weeks straight; totaling 85.8 in all.

The egregious increases total $1.797 within the past few years, increasing more than half that this month alone at an average of 90.8 cents. The majority of this increase occurred within this week alone, with 70.7 cents coming in light of steadily worsening conditions in Ukraine and Russia.

Experts attribute the spike to supply shortages from the numerous closures and boycotts of Russian oil supplies, halted by a copious amount of Western Sanctions in hopes of stemming off the tyrannical company

The price spike “is not exactly surprising — it is the cost of choking off Russia from energy revenue,” said Patrick De Haan, head of petroleum analysis for GasBuddy, a company that provides real-time gas price information from more than 150,000 stations.

With the situation in Ukraine not improving and hesitancy from the Biden admin to increase domestic production of oil, gas prices could continue to increase for a long time.

Photo Cred: NBC 7 San Diego