Here’s How Rising Gas Prices and Inflation Fuel Each Other

The Spotlight

5 minutes read

Apr 5, 2022

high inflation and soaring gas prices represented in a picture of a woman holding euro notes.

The backdrop of global inflation in the U.S. and Europe was already worrying. Now, Russia’s invasion of Ukraine is making the situation even worse, including sending gas prices soaring to record levels. Here’s what you need to know.

covid effect on the global oil market represented by a picture of a cartoon man tugging on a giant oil barrel
a white rocket flying up in the sky symbolizing skyrocketing crude oil prices
Spilled crude oil reflecting the Russian flag and symbolizing the impact Russia’s war in Ukraine has on global oil prices
InflationEconomy
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