Russia’s invasion of Ukraine has already led to an increase in gas prices. Triple-A Minnesota spokeswoman Meredith Mitts says the price of a barrel of oil has gone up:
“About five to seven dollars a barrel which is roughly a six percent (increase) and that translates into a ten to 15 cent increase at the gas pump.”
The cost for a barrel of oil is hovering around the 100-dollars today. This is the highest price for crude since 2014. Mitts doesn’t know when gas prices might drop again.