Why Are Gas Prices Going Up Because of Russia

Thank you for sharing!

We all watched in horror last week as Russia invaded Ukraine, completely unprovoked. We have also watched oil and gas prices escalate in recent months as the likelihood of this conflict escalated. President Biden, in announcing the initial sanctions against Russia, also indicated “defending freedom will have costs for us as well and here at home.” And as many of you have likely already noticed, those costs here at home largely come in the form of rising energy prices, with food prices likely to follow. But not defending freedom can be even costlier. Late last week, I collected your questions around Russia-Ukraine, why are gas prices going up because of Russia, and the broader economic implications of this conflict both here in the US and around the world. Here are some facts to frame and address those questions.

Thank you for sharing!

About Meghan

Meghan spent nearly a decade as a Financial Analyst, before spending the last 7+ as a SAHM to three little ones. She shares simple money tips for moms to help your family reach your financial goals by building a financial plan you can LIVE with! You can learn more about her background in finance, catch her daily on Instagram and Facebook, and her weekly live discussions in her community for Family Finance Moms.


  1. […] check out past podcast deep dives on Agriculture featuring farming experts from last month and with Gas Buddy’s Petroleum Analyst, Patrick DeHaan, from earlier this […]

  2. S3-5: What Drives Gas Prices? on December 14, 2022 at 12:02 pm

    […] prices have been on a roller coaster ride in 2022. In the first half of 2022, Russia’s invasion of Ukraine drove energy prices to their highest point in well over a decade. Ongoing supply chain disruptions, lingering from the […]

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.