A well-known San Diego economist, Dr. Alan Gin, estimated that the retail price of gasoline in Southern California could rise as much as a dollar a gallon due to the Russian invasion of Ukraine.
Dr. Gin, from the University of San Diego (USD), said in an interview with television channel 8 that the increase in "oil affects the economy; it affects people in terms of their daily lives."
The economist commented that "people have to fill the tank to travel, so they see that impact. Gas prices could go up to a dollar a gallon, and they're already pretty high here."
Every day, the United States imports 600,000 barrels of Russian oil. According to Dr. Gin, as the United States finds supply alternatives, crude oil and gasoline prices rise, but California already has the most expensive gasoline in the United States.
According to the American Automobile Association (AAA), the average price of regular gasoline in California is currently 4.77. However, there are some oscillations to 4.29 and 4.99 and up to 5 dollars per gallon, depending on the gas station.
If the fuel price historically skyrockets to about $6 a gallon, inflation can become widespread because the entire distribution chain and part of the production chain use fuel.
According to the US Bureau of Labor Statistics, January inflation in San Diego County topped 8 percent, driven mainly by rising food and energy prices.
The average price for a gallon of regular gasoline in the country is currently $3.57, $1.20 less than California.