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Consumers Back Ukraine as US Gas Prices Soar

Updated: Jun 27

March 9, 2022 |

The U.S. hopes to squeeze Russian President Vladimir Putin’s pocketbook and end the horrific Russian attacks in Ukraine, where bombs devastated a maternity hospital in Mariupol Wednesday, burying children in rubble. Americans support Ukraine, but there’s a cost. Tracy Noble of AAA says gas prices in New Jersey rose a nickel a gallon overnight and by 64 cents in the past week. Spiraling gas prices could convince commuters to carpool, or switch to mass transit, or delay returning to the office at all. Consumer pain will spread well past the pump. Any solutions are complicated, both politically and diplomatically.

NJ SEED: The economic impacts from the war in Ukraine will be felt throughout the nation for some time to come. It is misleading to assert the US gasoline price inflation is the result of Putin’s invasion of Ukraine. It is a factor, but gas price inflation began when the US determined to revert to being an energy dependent country.

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