Fueled by International Strife, Phila.-Area Price of a Gallon of Gas Rises to Above State Average

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Image via Rock Staar at Unsplash.
Ouch.

The Russian-Ukraine conflict, in addition to raising humanitarian concerns, continues to elevate the price of gas. The current cost of a gallon in the Phila. metro area ($4.30) has now topped the Pa. average ($4.23). Taylor Allen and Mike D’Onofrio tallied household budget hit for Axios.

The local, current, per-gallon price is not only higher than the statewide average, it has floated above last month’s average ($4.23) as well.

According to AAA, Russia’s invasion of Ukraine caused the crude oil price jump and its associated market uncertainty. The invasion increased oil prices by $24 a barrel last week. That equals a 60-cent bump at the pump.

Worse, area drivers aren’t yet done digging deeper to get around.

Prices are expected to continue rising, especially amid the ban on Russian oil imports in the country and Europe that is being considered.

“Pump prices will likely continue to rise as crude prices continue to climb,” said AAA.

In Philadelphia, gas cost $2.96 a year ago, $3.67 a month ago, $3.79 a week ago, and $4.23 on March 6.

Nationally, the average retail price topped $4 per gallon March 6 for the first time since July 25, 2008.

Read more about the spike in gasoline prices in Axios.

NBC’s Today has a report on the rapid surge in gas prices.

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