Green Bay Reporter

Gas prices have been rising all across the nation as the Russian invasion of Ukraine continues, and experts predict this could be just the beginning.

Fox 11 News reported rising costs at the pump will potentially extend throughout the country, including the northeast Wisconsin area. Patrick De Haan is the head of petroleum analysis with Gas Buddy and said that gas prices could go up by more than 20 cents per gallon, due to Russia’s response to the sanctions imposed by the U.S. and other countries around the world. De Haan said Russia could seek to weaponize its control of oil and other energy exports, “which would be devastating."

“I would say that in the next couple of weeks it could rise to $3.75 and possibly beyond that,” De Haan said to Fox 11.

Last week Sen. Tammy Baldwin joined members of Congress in recommending to President Joe Biden that he use the Strategic Petroleum Reserve in an effort to stop the increase in gasoline prices. Economists like Matthew Muenster of the transportation technology company Breakthrough told Fox 11 that there is uncertainty in the energy market right now, and the best long-term solution would be for the U.S. to invest in domestic energy. He also said that the Russian invasion could make it so fuel prices will stay high throughout the first half of this year.

Muenster said that he expects diesel prices to also remain high, with potential effects on a variety of consumer goods down the supply chain.