Crisis In Ukraine, Russian Sanctions Impacting Global Gas Prices

The crisis in Ukraine is expected to push gas prices even higher globally, including here in the US. The new sanctions on Russia and growing demands in Europe are contributing to the rise.

Thursday, February 24th 2022, 6:30 am

By: News On 6


The crisis in Ukraine is expected to push gas prices even higher globally, including here in the US.

The new sanctions on Russia and growing demands in Europe are contributing to the rise.

Related Story: Russia Attacks Ukraine As Defiant Putin Warns US, NATO

Russia is a major exporter of oil and national gas, selling 12 and 17 percent of the world's supply for each.

This means existing economic punishments, and any to come, will put more pressure on the global supply chain.

The Biden Administration is working with producers to secure the supplies.

It has also considered suspending the federal gas tax.

logo

Get The Daily Update!

Be among the first to get breaking news, weather, and general news updates from News on 6 delivered right to your inbox!

More Like This

February 24th, 2022

December 13th, 2024

December 12th, 2024

December 11th, 2024

Top Headlines

December 13th, 2024

December 13th, 2024

December 13th, 2024

December 13th, 2024