This US City Is The First To See $5 A Gallon Gas Prices Amid War In Ukraine

As the Russia-Ukraine war wages on, gas prices in the U.S. have already started to climb, with the first major city in the nation hitting $5 a gallon.

San Francisco is being reported to become the first to reach $5 a gallon due to the Russia-Ukraine conflict, according to the price tracker site, GasBuddy.

With the city hitting the $5 price mark, it broke its all-time record of $4.73 per gallon, which was achieved in October 2021, GasBuddy said.

“San Francisco just made history as the first-ever U.S. city to reach an average of $5 gas,” Patrick De Haan, head of petroleum analysis for GasBuddy, said in a statement. “And unfortunately, this record is likely just the beginning of a larger trend of price spikes to come to California and the entire country."

As tensions in Ukraine increase, the fuel tracker site reported a national average gas price of $3.70 per gallon on Thursday. However, De Haan told Fox News that gas prices “will continue to head north” and could even reach $5.35 per gallon by the end of March.

Sanctions placed on Russia are thought to threaten global oil supplies, increasing fuel prices in the U.S. The U.S. released 60 million barrels of crude from stockpiles to help keep supplies stable, but oil prices still continued to rise.

Oil prices topped $113 in trading on Thursday, Fox News reported. In early trading on Friday, crude oil was nearly $110, according to OilPrice.com.