The war between Russia and Ukraine has put a hike in United States gas prices leaving people paying up to $4.26 per gallon at the pump. Although depending on the state, and regional factors, prices have been seen going six dollars and above per gallon. The average price per gallon for Illinois gas last month was $3.07 per gallon, and the average cost today is $4.506 per gallon. The last time gas prices reached a record high was in 2008, at $5.13 a gallon. 

According to American Automobile Administration (AAA), Illinois is among the states with the highest gas prices, at $4.51 per gallon. The national average has reached $4.31 per gallon as of Saturday.

Americans are putting the blame on President Joe Biden for the rising gas prices saying that he has not allowed oil companies to drill through, but the factors that consider gas prices depend on the time and money it takes to produce a barrel of oil. Russia is the world’s third-largest oil supplier in the world, it produces 12% of the world’s oil supply, including 8% of the U.S.’ supply. Congress is considering cutting off the Russian energy supply due to growing tensions. 

Banning Russian oil in the U.S. would not make a large impact on oil supply in the U.S., since we only import 8% of Russia’s gas. The rest of our supply comes from Canada, Mexico, and U.S. owned oil rigs. 

The war between Russia and Ukraine is just one factor for rising prices. The pandemic is also another factor in inflation. As the economy rebounds from the pandemic slowdown, gas production must pick up again now that more people are traveling and driving to work again. 

News has come out over the last few days regarding gas prices. Prices seem to be heading down even if it is just by a few cents each day. It is unknown whether or not gas prices will continue to go down or if they will increase. President Biden has talked about decreasing or suspending federal taxes on gasoline if it comes to that point.