The recent surge in gas prices is hard to ignore. From local to national news, the plight of drivers has been one of the biggest economic problems for consumers in recent months.
International politics is partly to blame. Around three percent of U.S. crude oil comes from Russia, which is now facing sanctions for its war against Ukraine, according to The Washington Post.
One of the countries that have issued sanctions is the United States. And while the U.S. doesn't rely on Russia for oil, issuing these sanctions makes it difficult for Russia to sell oil in international markets, and has inadvertently affected prices for countries that do get their oil from Russia.
Furthermore, amid the Russia-Ukraine war, demand has risen, which has created the perfect conditions for exceptionally high gas prices.
You might recall gas costing less than $2 per gallon in the early stages of the COVID-19 pandemic. There was a lower demand for gas since fewer people were traveling due to lockdown procedures and working from home.
But, with COVID-19 vaccinations readily available and mask mandates being lifted, many people have felt safer returning to the everyday flow of travel, leading to an increase in prices.
No matter the reason, Americans can't help but notice high gas prices every time they swipe their card at the pump. And — really — it's those who rely on gas to get to school, work or in their daily lives that bear the brunt of these issues.
Consumers, specifically those who identify as low-income or make low wages, are especially affected by increases in gas prices.
Workers, especially young adults, are simply not paid enough to meet their needs and are especially under-equipped to handle sudden changes in the market, such as those we face today.