---
title: Why are gas prices skyrocketing?
description: Remember the good old days (a year ago) when gas was under $3?
---

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# [Why are gas prices skyrocketing?](https://hs-sbup.thehustle.co/news/03102022-gas-prices)

 Written by [Jacob Cohen](https://hs-sbup.thehustle.co/news/author/jacob-cohen) | Mar 10, 2022 9:04:36 AM

Remember the good old days (a year ago) when gas was under $3? Prices are up 50%+ since, and here’s why:

- **Russian oil** is de facto [banned](https://www.cnn.com/2022/03/09/energy/record-gas-price-causes/index.html) globally, and investors are pricing gas as if it didn’t exist.
- **Ramping up production** is hard, plus producers aren’t used to the Biden administration encouraging drilling.
- **With omicron** seemingly behind us, US car trips have increased 25% since the start of 2022.

Understandably, Uber drivers are feeling it, and some are now [asking](https://www.coworker.org/petitions/gas-prices-3) Uber to raise rates so they can afford to drive.

[View full post](https://hs-sbup.thehustle.co/news/03102022-gas-prices)

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