Gas Prices Surge 20% in a Week

[canyonwalker]

Gas prices are rising as Russia's war in Ukraine has raised concerns about supply problems. Many nations have responded with sanctions on Russia, and some oil companies are suspending operations in/with Russia. In just one week oil increased from $96.xx per barrel to $115. Closer to my own pocketbook, when I went to fill up gas in my car today I found that prices at the pump had increased $0.70/gallon since Monday. That's more than a 15% increase. I wish I'd gassed up Thursday when the increase was only $.30.

UPDATE: Gas prices rose 5 cents later in the day Saturday and another 5 cents Sunday morning. As of Sunday they're now 80 cents/gallon higher than 6 days earlier.

UPDATE 2: No, I'm not driving to the gas station twice a day just to check prices. All comparisons here are for the nearest Costco gas station. Gas prices are displayed in Costco's app. I've been checking the app periodically out of curiosity.

UPDATE 3: Prices rose yet again on Monday afternoon, though this time by only 4 cents. Still, that's 84 cents/gallon in 7 days, an increase of 20% in one week.

Comments

[sorcyress]

This is one of those things I mostly don't notice --I am lucky enough to live somewhere where I don't need to own a car (my work is about 1.5 miles away, and Boston-area has reasonably robust[1] public transit plus I own a bicycle for when there's not snow on the ground). But I passed a gas station yesterday and saw that we're past $4 a gallon, which is staggeringly high to me.

~Sor

[1] I have been known to say that the MBTA is "depressingly good" pubtrans for the US. Which is to say, it's so awful and could be so much better but I know it's still MUCH better than most of the rest of the country (NYC is probably better, DC and Chicago are close, Atlanta and Seattle and Sacramento are pretty rubbish in comparison; I've not tried other transit)