Gas Prices Rising to Above $4 Gallon

BY DAWSON HUNT STAFFWRITER

Photo of Morristown gas station sign. Mar 7, 2022
Photo of Morristown gas station sign. Mar 7, 2022

Gas prices all over the world skyrocket amid the Russian invasion of Ukraine. In fact they have reached the highest point since 2014. Many understand what is happening between the two countries, but what are the consequences, and how are they linked? One of the main things that has caused this to happen is the gas line construction cease.

Oil prices have even reached $109 a barrel! Energy companies all around the world are not increasing production even though gas and oil prices are about to pass a new high. Experts are warning that if oil prices continue to climb gas prices could hit $6.50 or $7. Gas prices are also expected to rise due to demand, as the weather gets warmer more people will hit the road causing prices to rise even more.



Sources:

https://www.businessinsider.com/why-are-gas-prices-so-high-right-now-3-reasons-2021-10

https://www.wfmynews2.com/article/money/economy/gas-prices-soaring-geopolitical-tensions-inflation-covid/83-1828e432-e4a2-4b5d-ba79-ba5ae25609e5

https://nypost.com/2022/02/17/gas-prices-could-reach-7-a-gallon-as-russia-ukraine-tensions-escalate/

https://www.businessinsider.com/americans-paying-more-for-gas-than-they-have-i-7-years-2021-10

https://www.cnbc.com/2022/02/24/russia-ukraine-crisis-could-see-gas-supply-ramifications-for-the-world.html


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