GRAND JUNCTION, Colo. (KREX) — “It already cost me twice as much to fill up my tank. Now its hard to imagine being able to fill up all the way.” says a Grand Junction citzen.
There are all kinds of reasons high gas prices typically go up in a short period of time. Usually it’s an increase in demand or limited production internationally, but Skyler McKinley tells me this time, there’s more to it.
“The spikes you really notice really zone in and center on the Russia Ukraine conflict.” says AAA Regional Director of Public Affairs, Sklyer Mckinley.
McKinley says the price of gas soared because we need to drop Russian crude oil and look to places like Canada, Saudi Arabia, or even Mexico.
McKinley mentioned, “It all relates to the price of a barrel of crude oil.”
Following the Russia Ukraine conflict the price for a barrel of crude oil jumped more than a hundred dollars. The highest u.s. increase since 2008.
“As of Wednesday, it was 110 dollars. It continues to tick upward.” McKinley uttered.
Gas prices soared 19 cents just in the last two days, 43 cents since Wednesday, and 53 cents since the invasion 9 days ago.
A Grand Junction resident stated, “I’m absoutley aware of it, you see it as soon as you get to the pumps.”
Right now, Russia accounts for ten percent of the worlds oil, and three percent of oil the United States imports.
“And that oil is really no longer in the system, so there’s not enough supply and there’s quite a lot of uncertainty. And that uncertainty is what drives the speculation up.” McKinley added.
Until the picture is more clear, gas prices won’t look pretty.
McKinley mentioned,”Trendwise, we’re looking at gas prices ticking up throughout the rest of the year, at minimum.”
Maybe not what you want to hear, but there’s a silver lining.
“One reason we’re seeing prices as high as they are, is because people perceive it as safe to travel again.” McKinley stated.
Meantime, here’s a few tips to make your tank last longer. Unnecessary items weigh down your car. Take them out.
McKinley brought up, “If you have a rooftop storage rack, or a ski rack that your not using. That can dramatically increase your fuel efficiency take that off the car.”
Also, cut trips to once a week.
“Either by remote work, by carpooling, or where its available to take mass transit, or by walking.” McKinley mentioned.
We know its hard to do but there’s not much choice as crude oil soars, and gas prices do too.
Source: Grand Junction Local News | Astronomical gas prices among the Western Slope