How high will gas prices go with ongoing conflict in Ukraine?

WALPOLE, Mass. — One of the biggest ways we will feel the impact of the tensions in Ukraine here at home is the gas prices. Depending on where you shop you may be paying anywhere from $3.40 to almost $4 a gallon this week.

“I’ve been flipping out, it’s crazy what we pay for gas,” said Carla Wilson -Barnes of Walpole. “They need to do something about it. This is crazy this is crazy.”

Now the question is should you fill up now or wait it out? Warning, you won’t like the answer. “The trend of increasing prices that we’re seeing right now is unlikely to end anytime soon,” said Mark Schieldrop of AAA.

AAA says it’s normal for gas prices to trend up this time of year as we’re about to switch to summer-blend gasoline which costs more to produce. Plus more summer travel means more demand. Then add the global tensions and who knows how high the prices will get especially since Russia is a major player in oil production.

“They’re the third-largest oil-producing country in the world,” said Schieldrop. “So any disruption to global oil supplies will certainly result in higher fuel prices. So we could see $4 a gallon of gasoline. If you look at California, they’re approaching five dollars a gallon. For many years $3 a gallon, above that we would start to see behavioral change. Well, we seem to have blown that and people are going to go on road trips this summer. So the question is, is $4 a gallon going to cost people to cancel trips or rethink their plans or maybe be more strategic about their driving? It kind of remains to be seen.”

“It is expensive,” said Wilson-Barnes. “We can barely make it and I don’t only have to deal with this, I have to deal with the oil too. I have to pay for oil in my house so it’s crazy.”

AAA says if you don’t have an electric vehicle, you should shop around for cheaper gas, slow your speed, and keep your tires inflated. Those tips may make it to where you won’t even notice a difference in your budget.