Gas in San Antonio up 6%, could hit $4 a gallon as Russian invasion of Ukraine continues

Gas prices in San Antonio are up 6% this week, and increased by $0.33 cents over the past month. - FLICKR / UNITED SOYBEAN BOARD
Flickr / United Soybean Board
Gas prices in San Antonio are up 6% this week, and increased by $0.33 cents over the past month.
Though 6,000 miles away, San Antonio residents are starting to feel the effects of Russia's invasion of Ukraine.

Gasoline prices in Bexar County are up 6% since last week, according to the American Automotive Association. The average price for a regular gallon of gas in the county currently sits at $3.27, an increase of 33 cents over the past month.

And it could get worse.

Tom Kloza, global head of energy analysis for the Oil Price Information Service, told CNN that drivers should brace for a national average of $4-per-gallon gas by mid-March.

The uptick can be attributed to Russian President Vladimir Putin's invasion of Ukraine, now entering its fifth day. Russia is the world's second-largest exporter of crude oil, and economic sanctions by the U.S and its allies have barred the country's output, leading to price hikes at the pump.

In comments to reporters, President Joe Biden said "defending freedom will have costs, for us as well and here at home," according to news site MySA. Those come as costs for food, rent and utilities continue to rise. Annual inflation hit 7.5% last year, the highest since 1982.

While San Antonio consumers are likely to feel a pinch from higher gas prices, Texas is still below the national average of $3.61 per gallon, according to AAA. Californians pay around $4.83 per gallon.

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