The ongoing conflict between Ukraine and Russia has pushed up energy prices worldwide, with gasoline prices in the United States soaring to an all-time high on March 8. Critics have blamed the Biden administration’s insistence on diverting away from fossil fuels, a main contributor to the price hike. The average price of regular unleaded gas was $4.17 per gallon on Tuesday according to data from the American Automobile Association (AAA). This is the highest recorded average retail price in history. At $4.17 per gallon, the price is more than 15 percent higher than a week prior, over 20 percent higher than a month ago, and up by 50 percent compared to the previous year. In some parts of America, gas prices have reached $7 per gallon. Oil prices are moving up due to sanctions slapped on Russia by the West that has disrupted energy supplies from the country. Russia exports …
Gas Prices Break Record Again, up 15 Percent in Weekly Growth
March 8, 2022
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Biden administration energy policiesBusiness & Economycommoditieseconomic policieseconomyExecutive Branchgas priceshigher oil pricesinflationMarketsNew Sanctions on RussiaPoliticsRussian Oil TradeUSUS News
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