By: Sophie Hu — Correspondent
On March 8, the national average price for a gallon of regular gas was $4.17, shattering the previous record of $4.11 a gallon in 2008.
Gas prices have risen by over 87 cents in the last month nationwide. According to AAA, as of March 15, the cost of regular gas in Massachusetts is $4.34.
The rising cost of gas in recent weeks comes as Russia’s invasion of Ukraine has affected global oil markets and caused President Biden to ban all imports of Russian energy. The US, along with other countries, have placed sanctions on Russia because of the war.
“Over 30 countries representing well over half the world’s economy have announced sanctions that impose immediate and severe economic costs on Russia, cut off access to high-tech technology, sap its growth potential, and weaken its military for years to come,” the White House published.
Russia is the third-largest producer of oil, producing 7 million barrels of oil per day, about 10 percent of the world’s oil supply. Because of its impact on the world’s oil supply, the world cannot cut off Russian oil completely.
“There is no capacity in the world that could replace 7 million barrels per day,” said Mohammad Barkindo, secretary-general of the Organization of the Petroleum Exporting Countries (OPEC). “We have no control over current events, geopolitics, and this is dictating the pace of the market.”
In the US, the average price of gas is finally beginning to fall this week, going from the price of $4.33 on Friday and slowly decreasing. However, the price is still $1.47 more than the same time last year.
High prices have a huge impact on drivers. “It stresses me out. I don’t have a job but I have to pay for gas, so I just have to drive less,” said Abigail Gott, a senior who drives a 2016 Hyundai Sonata.
“It takes so much money to fill up my tank. I never fill my tank all the way because it takes about 100 dollars to do it now. It’s really affecting me being able to drive places while worrying about the price,” said Savannah Grey, a senior who drives a 2007 Jeep Laredo.
Consumers looking to save money on gas can download the GasBuddy app, which finds the cheapest fuel prices from over 150,000 gas station locations in the US and Canada. Alternatively, they can visit Google Maps, GEICO, or the GasBuddy website to search for fuel prices. According to GasBuddy, the cheapest gas station in Sharon is BP, with a price of $4.33 per gallon of regular fuel.
Cumberland Farms trails close behind with a price of $4.35 per gallon. Customers can also download the Cumberland Farms app for free to save 10 cents per gallon.