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Fears of US gas prices spiking amid Russian invasion of Ukraine

(NEW YORK) — The stock market has been up and down this week amid Russia’s invasion of Ukraine, and while we are likely to see more volatility in Wall Street in the days ahead, experts say the main effect of this crisis in the U.S. will be at the gas pump.

The national average price for gas is inching its way towards $4 a gallon. And, as ABC News’ Deirdre Bolton explains, “the effects could be even more wide ranging than just gas for your car.”

“The price of airline tickets may also go higher if carriers pass the extra cost of higher jet fuel onto passengers,” Bolton says. “Home heating prices are likely to rise, as well, as are food prices even from their current pandemic highs, since transporting food costs more as diesel for the trucks will be more expensive.”

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