CUMBERLAND COUNTY, Pa. — As tensions between Russia and Ukraine continue to rise, market analysts warn of an increase in gas prices.
After signing decrees recognizing the independence of two separatist regions in eastern Ukraine, Russian President Vladimir Putin ordered Russian troops to those areas and commanded them to "maintain peace."
The unclear conflict brings worry of possible deaths and economic disadvantages across the globe.
Oil prices have jumped 5% since Putin's command Monday and petroleum analysts say if tensions continue, this could affect global oil production which already is in the midst of recovery. Even with this, analysts say there may be hope.
"With nuclear talks between Iran and global powers ongoing in Vienna, the possibility exists that a new deal could bring Iran's crude oil supply back to legitimate markets, helping to ease a slight portion of supply concerns," Patrick DeHaan, a petroleum analyst for GasBuddy, said.
With inflation being above 7% across the nation, the prices of gas have already increased.
According to AAA, Pennsylvania is seeing the average price of regular gas at $3.73, a $0.04 increase from last week but an $0.83 increase from 2021.
For a look at the statewide price fluctuations of other gasoline octane grades click here.