AAA: Russian Invasion of Ukraine, Causes Spike in Massachusetts Gas Prices

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FRAMINGHAM – The average price for gasoline in Massachusetts jumped 8 cents to $3.62 per gallon, according to AAA Northeast, which has an office in Framingham on Route 9.

Today’s price is 24 cents higher than a month ago ($3.38), and 98 cents higher than February 28, 2021 ($2.64).

Massachusetts’s average gas price 1 cent higher than the national average.

Russia’s violent invasion of Ukraine has roiled the oil market, with crude spiking briefly to over $100 per barrel before settling back into the mid-$90s. The increase in the global price of oil has led to higher pump prices in the U.S.

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“Russia’s invasion and the responding escalating series of financial sanctions by the U.S. and its allies have given the global oil market the jitters,” says Mary Maguire, Director of Public/Government Affairs. “Like the U.S. stock market, the oil market responds poorly to volatility. It’s an explosive situation, and a grim reminder that events on the far side of the globe can have a ripple effect for American consumers.” 

AAA Northeast’s February 28 survey of fuel prices found the current national average to be 8 cents higher than last week ($3.53), averaging $3.61 a gallon.

Today’s national average price is 26 cents higher a month ago ($3.35), and 90 cents higher than this day last year ($2.71).

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*Prices as of February 28, 2022