Gas Prices Climb for Third Week in a Row

Gas prices took another jump on Monday, March 7, reaching levels not seen in 14 years. Gas stations around Kearney are now pricing unleaded gasoline at $3.79 a gallon. That’s up from $3.69 last week when gas prices took a 20 cent jump.

Nationally, the average price of regular gasoline broke $4 per gallon on Sunday for the first time since 2008. According to AAA, the price of regular unleaded gasoline rose by almost 41 cents during the first full week of Russia’s invasion of Ukraine.

“As Russia’s war on Ukraine continues to evolve and we head into a season where gas prices typically increase, Americans should prepare to pay more for gas than they ever have before,” Patrick De Haan, head of petroleum analysis for GasBuddy, said in a statement.

The Russia-Ukraine conflict is only the latest reason for the rise of crude oil and gasoline prices. Before that, the COVID-19 pandemic caused a significant rise, and prior to that the Biden administration ended America’s energy independence and canceled the Keystone XL cross-border permit.

According to AAA, the increase in demand for gasoline and a reduction in the supply are contributing to rising pump prices. Also, the increasing oil prices are playing a large part in pushing gas prices higher. Consumers can expect to see gas prices rise under these conditions, which could mean record levels over the next several months.

KPGZ News - Brian Watts contributed to this report