Americans Face Record-Breaking Gas Prices Thanks To Putin's Actions In Ukraine

The cost of gas in the USA has been getting out of hand at a rapid pace and it looks like Russia's invasion of Ukraine is set to make the situation even worse. According to data sourced from the AAA, as of right now, the average price of regular gas in the USA is sitting at $4.252, nearly double what it was just a year ago, while diesel has also peaked with an average price today of $4.883. As of yesterday, the gas price in the USA reached an all-time high, surpassing even the amounts charged in 2008. The big question for some might be why exactly do Russia's actions affect the local price of gas?

The reason for this is because President Biden has decided to sanction the country which includes putting a stop to the procurement of oil. It is understood that a fraction of our oil is sourced from Russia, but this action of restricting the transaction will come as a severe blow to the country.

Making the announcement was President Biden himself who said, "The United States is targeting the main artery of Russia's economy. We're banning all imports of Russian oil and gas energy. That means Russian oil will no longer be accepted in U.S. ports, and the American people will deal another powerful blow to Putin's war machine."

Biden admits that the decision will hurt citizens of the USA as he adds, "The decision today is not without cost here at home. Putin's war is already hurting Americans at the gas pump. Since Putin began his military buildup on Ukrainian borders, just since then, the price at the gas pump in America went up 75 cents. And with this action, it's going to go up further. I'm going to do everything I can to minimize Putin's price hike here at home."