Gas prices will pass $4 after Russia-Ukraine news, despite efforts

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Gas prices will pass $4 after Russia-Ukraine news, despite efforts

  • Gas prices are averaging $3.53 a gallon in the U.S., up from $2.63 a year ago.
  • Experts said motorists should expect $4 per gallon after Russia gets hit with sanctions.
  • But some other factors might influence gas prices this spring and summer.

Gasoline prices are likely to rise following Russia’s actions in Ukraine and the massive sanctions President Joe Biden promised in response. Just how high they will eventually go will depend on Russia’s next moves.

For now, experts say expect $4 a gallon for much of the U.S. by early spring. Some traditionally pricey gas markets, like California and Hawaii, are likely to head past $5 a gallon. Patrick De Haan, head of petroleum analysis for GasBuddy, said a $4 national average is “inevitable” given the current situation.

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