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March 8, 2022
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The price of gasoline in the United States reached a new record

Oil reached its highest value in 14 years due to possible blockade of Russian crude

The value of gasoline at US pumps reached a historical record of US$4,173 per gallon. Photo: File.

The value of gasoline at US pumps reached a historical record of US$ 4,173 per gallon (3.7 liters), due to the threat that the war between Russia and Ukraine represents for world supply.

The average price of gasoline reached US$ 4,173 per gallon (3.7 liters) on Tuesday, record since 1990 when government records began.

In this way, compared to a week ago, consumers are paying 55 cents more, 72 cents more than a month ago, and US$ 1.40 compared to a year ago.

Prices vary between states, and in California the value scales to $ 5,444 per gallon, according to data from the American Automobile Association (AAA, for its acronym in English) released by the Bloomberg agency.

On the measure against Russia

The situation does not look promising for the next few months and could be aggravated with a ban on oil imports from Russiawhich represent 8% of the crude oil (for an equivalent of 672,000 barrels per day in 2021) received by the United States.

However, the figure drops to 3% if other petroleum products are discarded, such as unfinished gasoline that is often used as a raw material for gasoline and diesel production, according to the United States Energy Information Administration (IEA). Joined.

The measure (which includes coal and liquefied natural gas), outlined in recent days, will be officially announced on Tuesday, according to the AFP and Bloomberg agencies, and would not have, for the time being, the participation of European allies whose dependence on Russian oil and gas is greater

The rise is due to the threat posed to world supply by the war between Russia and Ukraine Photo Archive
The rise is due to the threat posed to world supply by the war between Russia and Ukraine. Photo: Archive

Facing the supply cut from Russia The United States explores other options, including the purchase of oil from Venezuelaa country where two official representatives were sent last weekend to hold a meeting with members of the Government of Nicolás Maduro.

Meanwhile, the international price of oil, whose impact tends to precede the value at the pump by a few weeks, It is already at more than US$125, both in the case of the WTI and Brent barrels.

In other countries, the effects of the price of crude oil are also being felt, and in Germany, for the first time, the price of fuel rose to more than two euros per liter, according to the ADAC automobile club and the DPA agency.

In March last year, the value of gasoline in Germany was only 1,315 euros per litre.

For its part, in Spain, the average price per liter jumped from 1.338 euros to 1.77 today.



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