In 3 days, gas in Northeast Ohio jumped 14 cents, but why?

President Joe Biden set to release 60 million barrels of oil reserves.
Published: Mar. 2, 2022 at 11:26 AM EST
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CLEVELAND, Ohio (WOIO) -There’s no doubt you’ve been watching gas prices in Northeast Ohio inch higher, even before Russia threatened to invade Ukraine.

Now that Putin has invaded, prices are increasing even quicker.

On Feb. 27, GasBuddy reported the average price of a gallon of gas in Northeast Ohio was $3.36.

Just three days later, the average price has jumped to $3.50, an increase of 14 cents.

In that same time period, the national average increased just 7 cents.

In the state, the average price is even worse.

In Tuesday night’s State of the Union address, President Joe Biden announced he was releasing 60 million barrels of oil reserves into the market to try and help stabilize prices.

Many experts have already said it may not be enough to make much of a difference and prices will get worse by the end of March.

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