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Georgia expert says US gas prices to rise as Russia-Ukraine tensions heat up

With the price of gas expecting to rise, other oil products may rise as well.

MACON, Ga. — Russia sees its first round of international sanctions after President Vladimir Putin said he would send quote "peacekeeping" troops into Ukraine.

The Biden administration called the explanation for the movement "nonsense."

President Joe Biden says the US cut off Russia from financing and will hit them with more sanctions if aggression continues.

The European Union is also moving forward with economic sanctions.

Lawmakers warn the effects of Russia's actions will be felt here at home, including with gas prices.

Crude oil was around $56 a barrel last year, and now it's going for a little over $95 worldwide. Experts expect it to rise even further, which means you would be paying more at the pump.

"My daughter has her own vehicle and she told me the other day that she is going to have to get another job to afford gasoline," said Angela Hurt.

Middle Georgia State University economist Greg George says Russia's invasion of Ukraine could push prices even higher.

"We depend on Russia for a fairly significant portion of our oil imports, they are one of the top importers for oil in the U.S. You can expect for prices to rise as tensions in Russia heats up," stated George.

Not only may the price of gas go up, but also plastic, jet fuel, heating oil, and diesel, and that could impact the price of many goods and services from grocers to airfare.

"We have actually already done some sanctions against Russia. If those continue, then Russia could cut off their oil flow to the U.S., or we may sanction them by not buying their oil, but all of that raises prices at the pump," stated George.

There are ways you can save at the pump, like carpooling when it comes to errands, not braking or accelerating hard, and making sure your car stays maintained. AAA also has an app that tracks gas prices in your area.

According to AAA, the average price of a gallon in Central Georgia today is around $3.37, which is 85 cents more than a year ago.

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