California Gas Price Highest in the US; Russia Warns About $300 Per Barrel Spike After Oil Import Ban

In South California, a gallon of gas has reached $7 while the national average for the U.S. has price reached just over $4. It was the highest it has been since 2008.

Gas prices showed no signs of slowing down with the gas prices in Los Angeles County tipping over $5.52; $5.51 in Orange County; Ventura County reports gas price at $5.46, according to an NBC Los Angeles news report.

Meanwhile, San Bernardino County has an average gas price of $5.42 and Riverside County at $5.41.

Doug Shupe, spokesperson for the Auto Club of Southern California, it was unfortunate to see the gas prices so high, especially after coming out of a two-year lockdown period and restriction.

Shupe added that people really want to get out and travel again.

U.S. Gas Price Rising Quickly

The main reasons for the uptick in U.S. gas price are the Russian-Ukraine crisis and the rise of inflation.

Patrick De Haan, the head of petroleum analysis at GasBuddy, said that the sanctions imposed on Russia by the U.S. and European Union have widely blocked Russia's ability to sell crude oil, which is one of the biggest determiners for gas prices, according to a USA Today News report.

Russia is one of the biggest energy suppliers. Them being cut off from the market drove crude oil prices to dramatically rise.

The cost for a barrel of U.S. crude oil settled at $119.40 a barrel, which increased by 3.2 percent. Earlier, it touched $130.50 per barrel.

The White House noted that the U.S. imported about 209,000 barrels per day of crude oil in 2021.

Ramanan Krishnamoorti, a professor at the University of Houston, said that Russia plays a big role as it produces "heavier, sour crude."

Krishnamoorti added that Russian crude is needed as U.S. refineries are not designed to use 100 percent of the "light, sweet crude" it produces.

Russian Oil Import

A senior minister said that western countries could encounter oil prices of over $300 per barrel with the possible closure of the main Russia-Germany gas pipeline if the government follows through on cutting energy supplies from Russia.

Russian Deputy Prime Minister Alexander Novak said in a statement that it is clear that a rejection of Russian oil would lead to catastrophic consequences for the global market, according to a CNN Business report.

Novak noted that it would take Europe more than a year to replace the volume of oil it procures from Russia, adding that it would have to pay significantly higher prices.

The Russian deputy prime minister then said to "go ahead" if western officials want to reject energy supplies from Russia.

Novak said that Russia is ready for it and they know where "we could redirect the volumes to."

Russia supplies 40 percent of Europe's gas, according to Novak.

He said that it was fulfilling its obligations in full but that it would entirely within its rights to "retaliate against the EU" after Germany froze the certification of the Nord Stream 2 gas pipeline last month.

Novak said that Russia has not yet made a decision.

This article is owned by Latin Post.

Written by: Mary Webber

WATCH: Gas Prices Continue To Climb Shocking Americans - from NBC News