PHILADELPHIA - The price of gas across the country will likely continue to balloon after President Joe Biden banned Russian oil imports Tuesday to turn the screws on Russian leader Vladimir Putin's assault of Ukraine.
"We're banning all imports of Russian oil and gas and energy. That means Russian oil will no longer be accepted at U.S. ports," the president announced on Tuesday.
According to a report from the Associated Press, the U.S. imported 245 million barrels of oil from Russia in 2021, representing about 8% of all U.S. oil imports and an increase from 198 million barrels in 2020. That is less than what the U.S. gets from Canada or Mexico, but more than the country imported in 2021 from Saudi Arabia.
AAA website says the national average price for a gallon of regular is at an all-time high of $4.173, as of March 8. Motorists in the Delaware Valley have watched a 60 cent jump over the last week, AAA said.
Motorists at a New Jersey BJ's Wholesale Club line up for as long as 30 minutes to score a "cheap" fill for under $4 per gallon. A nearby Costco saw a similar caravan of motorists eager to save a couple cents on a fill.
"I got to go to work every day, so I got to do what I got to do," Marvin Franklin, a Mount Holly resident, said. "Got to hold the fort down if not you can’t pay your bills
"We’re looking at record gas prices across the region and nationally, there’s clearly no relief in sight for motorists," AAA spokesperson Jana Tidwell said.
Increased driving as the pandemic retreats, and the federally mandated refining of "summer gas" are both factors in future price hikes, according to experts.
During the same time in 2021, officials with AAA say the national average price for a gallon of regular is $2.76.
The highest recorded average price for a gallon of regular, according to AAA officials, was $4.114 in July 2008.
MORE ON GAS PRICES
- What would happen if the US banned Russian oil?
- US gas price average hits $4.17, an all-time high, AAA says
- Local gas prices continue to hit new highs, setting new record, AAA reports
- Pain at the pump: Gas prices rising to levels not seen for over a decade; here's what you need to know