Can You Imagine If Gas Prices in Maine Doubled?

While waiting for my sandwich at lunch yesterday at a local sandwich shop, I overheard two guys chatting as they were doing the same.

And yes, I was eavesdropping.

The two guys were talking about what is going on with Russia and Ukraine. And saying to each other, "Why should we care about it here in Brewer Maine?"

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Yes, I bit my tongue and said nothing. But here’s why we should care.

If not for the obvious about the cost of war in a time when we as a country are having to spend a lot of money on other things, like for example, the pandemic.

Just yesterday morning I was looking for something online and a Yahoo story popped up. It was about oil prices, meaning what is going to happen to oil prices in America, and in Maine if the conflict escalates with Russia and Ukraine.

First, before I drop the mood of the room, a check of current gas prices brings us this.

Maine’s average price of a gallon yesterday was $3.52.

Texas seemed to be the lowest in the U.S. at just over $3 a gallon, while California is nearly $5 a gallon in a lot of counties, the highest cost in the country.

Sitting down?

Here’s what I read

My guess is that you are going to see $5 a gallon at any triple-digit oil prices…as soon as you get to $100. And you might get to $6.50 or $7. Forget about $150 a barrel, I don’t know where we will be by then

That from Energy World founder Dan Dicker on Yahoo Finance Live.

Yesterday crude oil was up to $94 a barrel. And Russia produces 10% of the world’s demand.

If only for the reason that we don’t have gas prices doubling in Maine, let’s all hope the Russia Ukraine thing gets worked out, and sooner rather than later.

The sandwich was very good, by the way.