U.S Gas Prices Skyrocket

U.S+Gas+Prices+Skyrocket

Mary C

This week, gas prices have climbed almost 23 cents nationwide. It jumped 11 cents from Thursday into Friday. This marked the single largest day increase since 2016. The average price of regular gasoline is now $3.84. It recently was $3.61. The price at some pumps in Allentown is over $4.00. Prices are up $1.08 compared to this time last year. There had been widespread fears that sanctions placed on Russia would threaten the global oil market, already facing a tight supply, and eventually drive up gas prices for U.S. motorists. This week, the United States and other countries agreed to release 60 million barrels of crude from stockpiles to stabilize supplies, but it failed to calm anxiety over Russia’s attack on Ukraine as oil prices still rose. Many lawmakers like Senator Pat Toomey are pushing to cut off Russian oil and gas exports as part of sanctions against the country. Toomey went to twitter on Thursday and said “Make no mistake: by failing to cut off Russian oil and gas, the U.S. is helping fund Putin’s War. The U.S. must immediately halt its purchases of Russian energy and force other countries to do the same.” It looks like the gas prices won’t be coming down for a while.