Missouri gas price jump less than a week into Russian invasion

COLUMBIA, Mo. (KMIZ)

The price of a gallon of gas in Columbia rose by nearly 30 cents last week on average, and prices might go higher as the conflict in Ukraine continues to strain global energy markets.

A gallon of regular unleaded fuel now averages $3.42 in Columbia, while a week that same gas cost an average of $3.15 -- a 27-cent increase in the Columbia area since the Russian invasion of Ukraine began.

The current statewide average for gas in Missouri is $3.32, according to AAA, up from $3.17 a week ago.

Drivers in Columbia are paying 10 cents more than the state average right now. In the past month, gas prices in Columbia have increased nearly 30 cents compared to a month ago leaving drivers frustrated.

Lisa Vest says, "It's terrible I think the increase is terrible, I wish there was something they could do about it, I think it's hurting people all over."

Gas prices are expected to continue to rise as the Russian invasion of Ukraine rolls on. Russia is one of the top suppliers of oil and natural gas in the world. The U.S Energy Information Administration says the U.S gets about 7% of its gross petroleum from Russia.

Recent spikes in demand for gasoline and other crude oil products in addition to geopolitical tensions continue to keep crude above $90 per barrel.

Patrick De Haan with Gasbuddy says, "A lot of upward pressure on prices, not only Russia but continue to increase in demand as the nation recovers from the pandemic, we are also switching to summer fuels this time of year and refineries are doing maintenance."

Experts say prices will continue to get worse with summer right around the corner even if the situation in Ukraine and Russia were to be resolved.

"We could see prices go up 25 to 75 cents between now and Memorial Day weekend and that's primarily because of seasonality," De Haan said.

AAA offers the following suggestions to save on gas:

• Make sure your tires are properly maintained and inflated to the correct level.
• Maintain your car according to the manufacturer’s recommendations. Regular service will ensure optimum fuel economy.
• Slow down and drive the speed limit. Higher speeds result in more aerodynamic drag.
• Avoid extended idling to warm up the engine, even in colder temperatures. It’s unnecessary and wastes fuel.
• Remove unnecessary and bulky items from your car.
• Use cruise control on the highway to help maintain a constant speed and save fuel.
• Use a gas-saving app to compare prices in your area.

Prices will continue to rise. according to experts, especially with high summer demand right around the corner.