Russia's invasion of Ukraine is a major reason that US drivers are paying record prices for gasoline. But it's not the only reason
Numerous factors are combining to push gas prices up to a record. Gas hit $4.25 for a gallon of regular gas, according to AAA's survey Wednesday. Gas prices were already expected to breach the $4 a gallon mark for the first time since 2008, with or without shots fired or economic sanctions imposed in Eastern Europe. Now, because so many factors are at play simultaneously, drivers should prepare to pay uncomfortably high gas prices through at least Labor Day. Prices could easily reach $4.
and its allies, including Russia, agreed to slash production as a way to support prices. Even when demand returned sooner than expected, they kept production targets low.US oil companies don't follow those types of nationally mandated production targets. But they have been reluctant or unable to resume producing oil at pre-pandemic levels amid concerns about the prospect of tougher environmental rules that could cut future demand.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Russia-Ukraine live updates: Ukraine says Russia still disrupting evacuations; U.N. says 2 million have fledThe heads of U.S. intelligence agencies are testifying to Congress amid Russia’s invasion of Ukraine. Watch our live coverage.
Les mer »
Russia-Ukraine live updates: Russia claims it will not send in conscripted soldiersUkraine Emergency Services released footage showing a fire at an oil depot in the city of Zhytomyr after a reported strike on Monday.
Les mer »
Russia-Ukraine War: What to know on Russia’s war in UkraineRussia’s invasion of Ukraine entered its 12th day following what Ukrainian authorities described as increased shelling of encircled cities and another failed attempt to start evacuating hundr…
Les mer »
Russia-Ukraine war: 2 million have fled Ukraine since invasion, UN saysTwo million people have fled Ukraine in the two weeks since Russia's invasion, the United Nations' refugee chief said Tuesday.
Les mer »
Russia-Ukraine war: 2 million have fled Ukraine since invasion, UN saysTwo million people have fled Ukraine in the two weeks since Russia's invasion, the United Nations' refugee chief said Tuesday.
Les mer »
Russia-Ukraine live updates: Ukraine claims Russian general was killed in fightingBREAKING: Coca-Cola announces the company is joining McDonald’s and Starbucks in suspending their operations in Russia.
Les mer »