Oil and Gas Price Increase Could Benefit to Texas, New Mexico Economies

Oil and Gas price

For more than a week, oil and gas price across the country and the Borderland have seen noticeable increases.

Dr. Christopher Erickson, Garrey E., and Katherine T. Carruthers, Chair for Economic Development, said numerous factors contribute to the rise in gasoline. Currently, the war between Ukraine and Russia is one of the biggest.

“The disruption of the pandemic is coupled with the problem with Russia. The sanctions being imposed on Russia associated with the invasion of Ukraine is an issue. To use a hackneyed phrase, it’s a perfect storm. And so we’re getting these record-high oil, gasoline prices nationally and locally,” said Erickson.

” I do drive to and from work every day, so obviously, working for a minimum wage it does affect me,” said Ethan Estrada, El Pasoan.

“I’m like an average income person, so it really does affect my life like a lot,” said Daniel Valdez, El Pasoan.

” I door dash, it’s less of a profit than it normally would be if the gas prices were $1.98,” said Brandon Duarte, El Pasoan.

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Source: KFOX14

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