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Gas prices up 40 cents per gallon since Russia invasion of Ukraine, increase likely to continue
Gas prices in Michigan are getting closer and closer to $4 per gallon as the Russian invasion of Ukraine puts a strain on energey costs.
SOUTHFIELD, Mich. (FOX 2) - It's been a little more than a week since Vladimir Putin and Russia began the invasion of Ukraine and AAA says drivers are already paying $0.40 more per gallon for gas. And that's unlikely to change.
Prices are expected to fluctuate during the conflict as crude oil prices will fluctuate and it may be time to start conserving gasoline.
Last week, the invasion began, gas prices were already over $3 per gallon at $3.35. Today, it's $3.72.
If it seems like every time you pass a gas station, the price is getting higher, you're not alone. The war with Ukraine is responsible for a price hike unlike anything we've seen in a long time.
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"We’ve seen crude oil go to a spot now that we haven’t seen in 10 years. Gas prices right now are the highest they’ve been since 2014," said Gary Bubar from AAA Michigan.
Back in 2014, the national average for a gallon peaked at $3.69, below today's average.
And in just one day, from Wednesday to Thursday, Michigan's average climbed ten cents per gallon. It's some of the highest cost per gallon in the nation.
In Southfield, we found gas that was close to $4 per gallon. Rick Eaton said driving from the city out to the suburbs, it seems to get higher and higher.
"I can use my Kroger card here so I typically use my Kroger card. Or I go to the Kroger gas station down the street. I try to avoid the real high ones. I saw one as high as four dollars today. That was out in Farmington," Eaton said.
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With the climbing of gas prices, there are a few ways to conserve. Start by grouping all of your trips together and run as many errands as possible in one trip.
Second, make sure your tires are properly inflated. If they're too low, it will take more gas to power your engine.
Third, make sure your car is running properly.
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These steps should be taken until adjustments are made in oil production to help stabilize gas prices.
"We’ve seen estimates on ($4 per gallon and $5 per gallon). I think we’re going to see gas prices at the pump follow what crude oil prices are by the barrel," Bubar said.
The bottom line is this: as crude oil prices go, so do gas prices and, at last check, crude oil was $111 per barrel.
For comparison, when the barrel prices are around $55, the price is more like $2 to $2.50 per gallon.
With spring break and the summer holidays coming soon, experts expect that to continue to rise.