US Gasoline Prices Soar Amid the Russian-Ukrainian war

March 17, 2022
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US Gasoline prices soar amid the Russian-Ukrainian war

The Russian-Ukrainian war seems to be geographically far away from the United States, but in fact it still has a significant impact on our daily life. The prohibition on the import of Russian oil promulgated by the United States and the refusal of many European countries to import Russian oil have led to strong changes in the international oil supply and demand relationship. According to the report, California currently has the highest gasoline price. In California, the average price hit $5.573 a gallon, which is also a record. The national average gas price soared to $4.173 a gallon, a record high. It rose more than 20%. Many people says that they can't drive a car and try to reduce the frequency of driving. For example, they used to go to the supermarket twice a week, but now they only go once. The way to go to work has changed from driving to taking public transport.

Let's analyze why the war had such a significant impact on U.S. gasoline prices. In fact, the war affects not only the gasoline price of the United States, but the gasoline price of the whole world. This change is due to changes in supply and demand. Because of the war, the United States banned oil imports from Russia, even if only 8% were imported from Russia, which is not a small amount. The United States has turned to increasing imports of UAE oil, while many European countries also import oil from the UAE. In this way, the relationship between supply and demand of international oil has changed, and all imports are from one place, which will inevitably lead to an increase in oil prices. President Biden also acknowledged that a ban on Russian oil would lead to higher U.S. gasoline prices. He said the government's previously announced release of 30 million barrels of oil from government reserves would help curb increase in gasoline prices. But in the long term, the move doesn't really curb the rise in gasoline prices.

Electric bike

For ordinary people, the transformation of transportation may be a long-term and effective method. Replacing ordinary cars with electric cars, or replacing them with electric bicycles which is the most economical way under the current Covid situation. Cycling is one of the favorite outdoor sports in the United States, and electric bicycles have also become a new way of transportation while advocating healthy life. Electric bicycles can also take you to experience the feeling that the car can't experience, such as riding on the mountains, path, and feeling strong handling.

All in all. Based on the current war and Covid situation, rising petrol prices in the United States has become an issue. Electric forces become the most suitable means of transportation. Most people like to ride bicycles, bicycles with electricity have become a popular trend, electric bicycles have combined the trend of the new era and people's favorite outdoor sports, which make electric bicycles the most sensible choice.