Russia-Ukraine Crisis Causes Ohio Gas Prices to Rise
MUSKINGUM COUNTY, Ohio- The invasion of Ukraine by Russia has caused multiple effects and concerns.
As the conflict of the invasion escalates, one concern is for the oil market to increase the price of oil due to the risk of distribution, which is driving up the prices of gas prices in Ohio and across the U.S.
Kimberly Schwind, an AAA Spokesperson, explains how the gas prices in Ohio will be affected.
“So a lot of times in Ohio what we’ll see is prices are held lower than the national average and then we see large spikes to spike more in line with the national average,” Schwind stated. “So the current national average is $3.62 a gallon, which is 9 cents more than a week ago. Here in Ohio today, our average is $3.41 a gallon and that’s 8 cents higher than yesterday and 29 cents higher than a month ago and prices are on their way up. So we suspect that Ohio prices will be more in line with that.”
Schwind said that people should suspect Ohio prices to be more in line with the national average in the next couple of days.
According to AAA, the West Texas Immediate crude oil increased by 71 cents to settle at $92.81 during Thursday’s formal trading session that went above $100 per barrel earlier that day.
“Russia is a large oil producing nation so the Russian invasion and the responding escalating series of financial sanctions by the U.S. has impacted the global oil market. So not only is Russia a major oil producer, but also because of the global market the response of those financial sanctions have given the market jitters so we’re seeing the oil market respond to this volatility. So there’s an increase in the risk as to what can happen and that’s when we see the markets go higher,” Schwind said.
Other factors that play a role in pushing prices higher is the increase in gas demand as the country moves on from COVID related economic issues and a reduction in total supply.
It is unsure on how high or how long these prices will continue, but Schwind says in the meantime drivers should really try to change their driving habits.
“One of the easiest and most effective ways to conserve fuel is to drive gentler. So go easy on that gas and brake pedal, avoid quick starts and slamming on your breaks,” Schwind said. “That’s really going to help and also slow down so driving the speed limit on the highway is a great way to make sure that you’re reducing the amount of gas that you’re using.”
Schwind added that drivers should also try to avoid unnecessary engine idling, combining trips and keeping up on the routine maintenance of the car.
Other major state increases include North Carolina at 6 cents, South Carolina at 5 cents, California at 5 cents and Nevada an increase of 4 cents. For more information on fuel-saving tips and daily national, state and local gas prices averages, please visit at gasprices.aaa.com.
