By now, everyone driving or with a car will have noticed the ever-increasing gas prices. On average, regular gas in California costs $5.772 on average, and mid-grade costs $5.961. It may not sound like much, but the average gas tank ranges from 12 gallons to 15 or 16 gallons. If you have a small car, you might end up paying about $70 for a full 12-gallon tank of gas. If you have a larger car, it may cost you up to $92 for a full tank. This increase in gas prices isn’t new; we’ve been seeing gas prices rise for decades, but why are they hitting record high prices now? 

Russia is one of the three largest oil producers in the world; they’ve also invaded Ukraine. In a video from President Joe Biden’s Instagram, released on Mar. 9, White House Press Secretary Jen Psaki outlines this as the reason for the rising gas prices. 

“The fact that they have started this conflict, invaded a foreign country, and they are such a big producer of oil in the world, is the reason why the global oil markets are disturbed right now and why your gas prices are going up,” Psaki explained.

Due to Russia’s invasion, the availability of crude oil has diminished, creating an imbalance between supply and demand. But this isn’t where the skyrocketing gas prices started. Before the COVID-19 pandemic, gas prices were declining since people were staying in their homes. Demand plummeted during quarantine, and the gas prices followed. 

“Companies that produce oil drastically decreased production to protect themselves from bankruptcy,” explained Marisa Lati and Brittany Shammas at The Washington Post. 

A year later, people started to venture outside their homes as vaccines became available. This sudden increase in driving and movement drove up the demand and prices of gas. Producers had to quickly increase their production to meet the demands of consumers, bringing prices up even more. 

Then, Russia’s invasion of Ukraine hit, and there was an added risk assessment to the price of oil, making it spike once again. Additionally, the ban of U.S. banks from transacting with financial institutions in Russia, and Biden’s overall ban on Russian oil imports on Mar. 8, increased prices. Unfortunately, it’s hard to track when gas prices will finally stop rising. 

“Even before the White House moved to curtail Russian oil imports, several global energy companies—including Shell, BP, and ExxonMobil— had voluntarily agreed to suspend their operations in Russia,” explained Devin Gladden, an adviser at the Energy Department during the Obama administration. “As long as Russia continues to fight in Ukraine, gas prices are likely to remain inflated.”

Gladden added that the approaching spring and summer driving season will also hike up gas prices due to higher demand. He predicts that this summer will be very expensive for consumers. Psaki explained that the Biden administration is doing everything they can to increase production, and decrease prices, but what can we consumers do?

Carpooling can help you and your family spend less on gas. It also helps to keep your car in good condition. That means engine maintenance, and keeping your tires fully inflated. Taking out useless heavy items in your car will help too. If your car is lighter, it’ll need less gas to get going. Even your driving habits can help save gas. Accelerate and decelerate smoothly, drive slowly, and turn off your engine while you’re not driving. 

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