2/26/2022- 1:02 p.m.
Peggy Jefferson may be 6,000 miles away from Ukraine, but she’s feeling the ripple effects at the gas pump.
“I got three (gallons) for $10 and something,” she said.
San Antonio gas prices on Friday averaged $3.14 a gallon, the highest in seven and a half years. Prices rose an average eight cents in the past week, but prices spiked at some stations as soon as Russia invaded Ukraine.
“Since yesterday, this here went up 20 cents,” said Ronnie Pullin. “It’s crazy.”
What it is is a global market.
“Unfortunately, we are kind of tied at the hip to the global market, and anything that can affect any oil-producing country overseas can affect us here at home,” said Patrick DeHaan, chief analyst for GasBuddy.com.
Russia is the world’s second largest producer of crude.
Oil briefly spiked Thursday to more than $100 per barrel, but by Friday, it has slipped a bit.
With uncertainty about what will happen with Russia and Ukraine, DeHaan says we can expect volatility in the market.
