Russia-Ukraine Tensions Adding To Higher Gas Prices

(Dallas, TX) — The price of gasoline in North Texas may be affected by events on the other side of the world.

The recent tension between Russia and Ukraine is the latest factor driving up prices at the pump. President Biden acknowledged this week that if Russia invades Ukraine, the U.S. will enact sanctions against Russia, and possibly take other actions as well. Since Russia is the world’s second-biggest producer of oil, that can only result in an increase in the price of crude.

Energy industry experts say low gas prices won’t return anytime soon.