Making It in the Bay

Bay Area Gas Prices Could Reach Nearly $6 a Gallon if Russia Invades Ukraine

An invasion combined with other factors would cause prices to surge by Memorial Day and continue rising through the summer, analyst says

NBC Universal, Inc.

Gas prices already are painful in the Bay Area, and if Russia invades Ukraine it’s possible that parts of the region could see those prices reach close to $6 a gallon this summer. petroleum analyst Patrick DeHaan told NBC Bay Area an invasion would put the Bay Area on the cusp of reaching another all-time high.

"It’s nearly guaranteed that a Ukraine invasion, combined with other seasonal factors, would boost California and the Bay Area to over $5 a gallon," DeHaan said. "We could see prices go halfway to $6 a gallon by the time Memorial Day rolls around if Russia does invade Ukraine."

The U.S. is threatening economic sanctions against Russia if it does invade Ukraine, but Russia could respond by cuttng how much oil it exports.

On top of that, DeHaan said terrorist attacks in the United Arab Emirates and unrest in Lybia also are contributing to higher gas prices, along with ongoing pandemic supply issues.

Drivers should plan for high prices to continue through the summer getaway season, DeHaan said.

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