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Gas prices climbing as Russia's Ukraine invasion continues

National Average: $3.61
gas prices
Posted at 11:08 AM, Feb 28, 2022
and last updated 2022-02-28 11:08:17-05

TAMPA, Fla. — As the Russian invasion of Ukraine continues Monday, gas prices, which were already rising, showed no signs of slowing down and may get even worse in the weeks to come.

According to AAA, the national average for a gallon of unleaded gas rose to $3.61, an eight-cent jump in just one week. It's also 26 cents more than a month ago and nearly $1 more than the price one year ago.

"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," said Andrew Gross, AAA spokesperson. "It's an explosive situation and a grim reminder that events on the far side of the globe can have a ripple effect for American consumers."

In Florida, gas is about 10 cents cheaper than the national average overall, but individual regions are paying more. In the Tampa/St. Petersburg/Clearwater metro area, a gallon of unleaded was running $3.50 a gallon on average. A gallon of premium unleaded costs $4.18 a gallon, and a gallon of diesel runs $3.95 a gallon.

The highest prices for gas on average in the state were in Palm Beach and Monroe Counties at $3.65 and $3.78 a gallon, respectively.

Unfortunately for drivers, the uncertainty surrounding the situation in Ukraine, combined with the increase in demand over the coming weeks and months and a decrease in total supply, will be a perfect storm to send prices even higher.

If you were curious, the all-time high average for a gallon of regular unleaded in the Tampa/St. Petersburg/Clearwater metro area was $4.01 recorded on July 16, 2008.