Will our gas prices rise over sanctions on Russia? Beshear says yes, Biden says no

FRANKFORT, Ky. – Many of you in Southcentral Kentucky are wondering how this Ukraine invasion will impact us here.

Will our gas prices spike? That’s a concern at the top of many of our lists. Governor Andy Beshear and President Biden have two different opinions.

“We will be called upon to endure things like higher gas prices,” Beshear said in his Twitter video posted Thursday morning regarding the Russia-Ukraine crisis.

While Beshear says prices will raise, the Associated Press posted an article around the same time Thursday morning saying, “U.S. President Joe Biden says the sanctions against Russia for invading Ukraine will not disrupt the global oil and natural gas markets.”

Biden continues saying that U.S. oil and gas companies shouldn’t use this situation to raise their prices, according to the article.

Beshear goes on to say in his video that rising gas prices are a small price to pay to stop Russia’s act of aggression.