Russia's invasion of Ukraine is pushing up gas prices at the same time broader inflation related to the pandemic has driven up the cost of many other goods.
Argenis Dominguez fueling up his SUV at a gas station in Boston. He drives Uber for a living and says the higher gas prices mean less money in his pocket.
Russia's invasion of Ukraine is pushing up gas prices at the same time broader inflation related to the pandemic has driven up the cost of many other goods. Brusuelas predicts Americans will"experience a once in a lifetime source of sticker shock through the remainder of the year." Once in a lifetime because an oil shock coupled with broader inflation hasn't hit the U.S. since the mid 1970s.
Those big signs at gas stations make us notice the price of gas all the time. But Bushnell says most cars and trucks are much more fuel efficient these days.per year," he says."So when when the price goes up by $1 a gallon, we're looking at another $400." He says that's not nothing, but it's not enough to cause major damage across the economy.though.
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