I noticed that the gas station on my way from work had dropped gas prices by four cents a gallon, so I slapped the turn signal and swerved quickly into the lot for my chance at a killer deal.
Some of you may have seen the same thing lately-but just when you thought there was some light at the end of the tunnel, Putin has screwed the planet. Don’t get me wrong, the invasion is a truly terrible thing for the people of Ukraine-but the military action means repercussions for the rest of the world as well.
According to WFLA, fuel prices will almost certainly be rising in the Bay, and almost instantly. Overnight, stocks went straight down the crapper, while oil prices rocketed upward.
The U.S. economy has been hit with increased gas prices, inflation, and supply-chain issues due to the Ukraine crisis. https://t.co/d9dwXWpcvf— CBS News (@CBSNews) February 23, 2022
Russia is among the largest producers of oil and natural gas on Earth, and the war could complicate export of both. Some experts have already estimated a .30 per gallon increase in fuel prices.
If they are right, that means Tampa will soon see $4.00 a gallon gas. Because of the high fuel prices, increases in grocery costs are also expected.
Grain-based foods are expected to rise the most. The conflict is also expected to affect the stock market.
The good news? If the conflict ends quickly, the disruption in supplies would end just as quickly as it started. Buckle up, everyone! It could be a wild ride!
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