WASHINGTON, D.C. – Vice President Kamala Harris is warning Americans to brace for even higher energy costs as the crisis between Ukraine and Russia continue into the spring. Last week, the White House predicted a Russian invasion on Wednesday, but that never happened. Now, as the crisis moves forward, Americans should expect to be hit once again in their pockets.
“The president talked about in his speech um, we are aware that again when America stands for her principles and all the things that we hold dear, um, it requires sometimes for…for us to put ourselves out there in a way that maybe we will incur some cost,” Harris said of the economic impact of the Ukraine crisis. “And in this situation, that may relate to energy costs. For example but we are taking very specific and appropriate I believe steps to mitigate what that cost might be if it happens.”
Since taking office last January, the average gasoline price in America has climbed steadily from $2.42 in January to $3.43 last month. This month, gas prices are climbing even higher as many are now paying over $4.00 per gallon for regular unleaded gasoline.
Natural gas, coal, crude oil and heating oil prices have also increased in recent weeks. Crude oil has increased from $61 per barrel in December to $92 in just two months.
Last April, natural gas was trading at $2.40. Today the price has nearly doubled, trading as high as $4.80 after peaking this past fall over $6.00.
Heating oil has also been on a steady increase. Last April heating oil was selling for $1.75 per gallon. Today it is trading at $2.90.