"Not everyone is suffering from high gas prices that have spiked further with Russia’s invasion of Ukraine and the international sanctions imposed on Moscow.
Some players, including the U.S. oil producers, stand to gain financially. And countries such as Saudi Arabia stand to gain both monetarily and politically.
On Friday, U.S. oil prices stood at around $106 per barrel, while international benchmark brent crude cost $110 per barrel. Gas in the United States cost $4.33 per gallon on average.
Here’s a look at who is benefitting — or could benefit — from the spike.
Companies that drill for oil"
Rachel Frazin and Zack Budryk report for The Hill March 11, 2022.
SEE ALSO:
"Republicans Seize On Rising Gas Prices Amid Ukraine Conflict" (The Hill)
"Fact-Checking 5 Claims In Russia Energy Debate" (E&E News)
Opinion: "The GOP Wants You To Think Of Joe Biden When You Fill Your Tank" (MSNBC)
"The Truth About Gas Prices And Oil Production" (Washington Post Fact Checker)
"What Happened The Last Time High Gas Prices Dominated US Politics" (Vox)
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