The US will no longer buy oil from Russia: how will this affect the production and sale of cars

The US sanctions against Russia will affect prices, especially for gasoline for cars with internal combustion engines. Russian oil accounts for only about 3% of all crude oil supplies to the country.

President Joe Biden announced this morning that the United States is banning oil, natural gas and coal imports from Russia due to the invasion and brutal attacks on Ukraine.

“I declare that the United States is targeting the main artery of the Russian economy. We prohibit any import of Russian oil, gas and energy resources,” Biden said in a comment from the White House. “This means that Russian oil will no longer be accepted in American ports, and the American people will deal another powerful blow to the Putin military machine,” he added. 

This, of course, affects the production and sale of cars, especially due to the inflated price of fuel. In California and New York, the threat of sanctions and restrictions on Russian oil has pushed gasoline prices to levels not seen since the turn of the century. Average gas station prices in the United States are now $4.173 per gallon, the highest since 2000.

In California, the most expensive US state for drivers, prices rose to $5.444 per gallon, but in some places in Los Angeles they were closer to dollars.

However, some drivers, as much as they don't want to pay that much for gasoline, choose to pay a higher price and help the war. A Quinnipiac University poll released on Monday showed that 71% of Americans would support a ban on Russian oil, even if it led to higher prices.

Biden also noted that he has strong support for this measure from Congress and the country. "Both Republicans and Democrats have made it clear that we must do this," the US President said. Although he acknowledged that it would be expensive for Americans.

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