AAA: Tensions over Russia/Ukraine are driving up gas prices

Since Russia is a member of OPEC+, AAA says “any sanctions based on their actions toward Ukraine may cause it to withhold crude oil from the global market. Higher oil prices will lead to higher gas prices for drivers.”

News 12 Staff

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Feb 6, 2022, 2:34 PM

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Updated 1,040 days ago

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Tensions between Russia and Ukraine are pushing crude oil prices higher almost daily, and it’s being felt by drivers at gas stations nationwide.

Since Russia is a member of OPEC+, AAA says “any sanctions based on their actions toward Ukraine may cause it to withhold crude oil from the global market. Higher oil prices will lead to higher gas prices for drivers.”

In New Jersey, the average price of regular gasoline this weekend was $3.44. That’s up 3 cents from last week. The currant average in the United States is $3.42 a gallon.

At this time last year, the average price was $2.57.

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