HARTFORD, Conn. — Connecticut residents continue to pay higher prices at the gas pump. Right now, AAA is reporting the average cost of regular gas sits at around $3.60 per gallon.
For those paying for diesel fuel, it's nearly $4 a gallon.
“I spend between $700 and $900 a week in fuel, which kills our revenue," said Dan Judkins, an independent contractor with Connecticut Logistics.
As a contractor, Judkins rents his trucks for deliveries. Between the cost of renting the truck and the cost of fuel, his profits are shrinking.
"It’s a trickle-down effect. Because, as it hurts us, it hurts the consumer as well because, we have to pay more," Judkins said.
But, why is this happening on the national level? For the past month, the main reason has to do with relations between Russia and Ukraine, according to Patrick De Haan with GasBuddy.
"On an account of the possibility that Russia, the second-largest oil producer globally could invade Ukraine, there could be disruption," said De Haan, who is the head of petroleum analysis at GasBuddy. "Should the U.S. respond to any Russian incursion with sanctions, Russia would likely impact or cut oil exports to inflict damage to the global economy."
Right now, De Haan said the U.S. does rely on a small amount of oil from Russia, though the U.S. is still the largest oil producer in the world. De Haan said the U.S. produced around 11.5 million barrels of oil per day, however, the country also relies on exported oil from Canada, Mexico, Saudi Arabia, and Russia.
"Oil is a global commodity so, what happens oversees impacts everyone," De Haan said.
And unfortunately, De Haan doesn’t see any relief in sight, since gas prices rise in the summer too. In the meantime, though, there is a way consumers can cut back.
“If American consumers all say, cut out a trip or two per week, that could cut demand by say, 5-10%. That would be enough to move the needle," De Haan said.
Julia LeBlanc is a reporter at FOX61 News. She can be reached at jleblanc@fox61.com Follow her on Facebook, Twitter and Instagram.
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