Are Temecula Gas Prices Affected By Russian Invasion? Report

Temecula CA

01 March, 2022

3:49 PM

Description

TEMECULA, CA — The cost of filling up in Temecula and all of Riverside County is causing drivers to make some difficult decisions, according to AAA national public relations. For the past 13 days, drivers in Temecula have watched average prices inch over $4.80 per gallon, Tuesday. The cheapest gas price in Temecula, as of Tuesday, is at Costco, at $4.58 followed by the Sinclair station at $4.69. Area families are carpooling more and taking advantage of walkable communities to save fuel. Many wonder how much the Russian invasion of Ukraine is affecting the current gas prices. Andrew Gross, an AAA spokesperson, attempted to answer that question, saying that "like the U.S. stock market, the oil market responds poorly to volatility." "Russia's invasion and the responding escalating series of financial sanctions by the U.S. and its allies have given the global oil market the jitters," Gross said in a released statement. According to AAA's tracking of the rising cost of gas, the average price has risen 26 of the past 30 days, increasing 21.6 cents, including seven-tenths of a cent Monday, according to the AAA and Oil Price Information Service figures. The average price is 10.2 cents more than one week ago, 21.2 cents higher than one month ago and $1.139 greater than one year ago. The current unrest half a world away remains "an explosive situation," Gross said. "[The invasion is] a grim reminder that events on the far side of the globe can have a ripple effect for American consumers."