Analysts say a Russian invasion of Ukraine could problems at the gas pump worse
CNN– Prices at the pump are rising, and the Ukrainian crisis could keep that trend going forward. The national average for a gallon of gas is $3.53, according to AAA. That’s a 4 cent hike from last week and 90 cents more from this time last year.
Analysts say a Russian invasion of its neighboring country would be matched with severe financial sanctions. That would likely lead the Kremlin to withhold oil from the world market, which is already struggling to stay afloat with demand.
AAA says Russia trails only the U.S. and Saudi Arabia in oil production, so that move would cause gas prices to increase globally.