Gas prices are rising in Kansas City. How could Russia’s invasion affect fuel costs?
The price of one gallon of regular gasoline in Kansas City has jumped from $3.15 to $3.25 in the past week: a rise of ten cents, according to automotive services provider AAA, which maintains a database of gas prices around the country. Half of the metro area’s price increase occurred in the past 24 hours.
Gasoline prices at the pump are rising around the country as Russia’s attack on Ukraine contributes to ongoing international concern about the oil supply chain.
Russia, a major oil producer, was hit with economic sanctions on Tuesday, Feb. 22 before it invaded Ukraine on Wednesday. In addition to humanitarian concerns, the escalating conflict could cause a spike in the prices of gas and other goods.
“Russia is one of the leading oil producers globally, behind only the United States and Saudi Arabia,” said Andrew Gross, a spokesperson for auto services provider AAA, in a statement on Tuesday, Feb. 22. “If they choose to withhold their oil from the global market, such a move would eventually be reflected in higher gas prices for American drivers.”
Missouri overall has seen a price bump of four cents per gallon in the past week, from $3.18 to $3.22. Half of that increase occurred in the past 24 hours. That’s a slightly higher increase than the rest of the country, which saw the national average gas price rise from $3.52 to $3.54 in the past week. But Missouri’s prices are still more than 30 cents lower than the national average.
The graphic above from AAA shows the price of a gallon of regular gasoline nationally and in Missouri on Thursday, Feb. 24, and compares it to past prices. The red bars represent the national average, while the blue bars show the Missouri statewide average.
It’s difficult to predict how international conflict will impact local gas prices moving forward, but Kansas City drivers may see these increases continue in the coming days, weeks or months. We’ll update this story with fresh data as we learn more.
Do you have questions about the price or gas or other essentials in Kansas City? Ask the Service Journalism team at kcq@kcstar.com.
.jpg)