Ukraine, Russia conflict could raise gas prices into summer season

NOW: Ukraine, Russia conflict could raise gas prices into summer season

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SOUTH BEND, Ind. --- Russia is currently the second largest producer of oil — supplying about 10 percent globally.

Experts tell ABC57 this invasion threat poses a serious risk for prices to raise to four dollars a gallon by summer.

40 dollars. That’s how much it usually takes to fill Ruby Brower’s gas tank. Over the past two weeks rising prices has her paying about ten dollars more.

“Oh, it has caused a gas rise in my van. Of course I don’t go as far with the gas that I put in it now because of the gas prices," said Brower, a South Bend resident.

Like Ruby your wallet might have already felt the impacts, but here in Michiana Patrick De Haan with Gasbuddy says we’re actually receiving a discount of about thirty cents per gallon — compared to the rest of the country.

“Some of those discounts are starting to end as the winter gasoline is dispersed and so here in the weeks ahead we’re likely to see gas prices spike as we start to transition to summer gasoline," said De Haan, Senior Petroleum Analyst for Gasbuddy.

He says prices will be further impacted if there’s any additional military action made between Russia and Ukraine.

While there’s been discussions at the federal level of tax breaks on gas, he says it’s uncertain how long it would be before they take effect.

“If that’s successful it would essentially mean that motorists would get a discount of up to 18.4 cents. It’s about a 5% discount where prices are today. It’s small, but it still is something," said De Haan.

Although we might not ever see these savings, Brower says she’ll just have to cut back on other things in the meantime to afford her fill up.

“I am affected by the gas prices, but it’s not gonna stop me from rolling," said Brower.

Gasbuddy says the current average price nationwide is 3.39 per gallon.

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