NBC Boston, June 2022
Western allies have targeted Russia’s lucrative energy sector in an attempt to punish Moscow for its invasion of Ukraine, but the move is a self-sacrificing one. Energy bills and gasoline prices have been high for months, and governments have been cutting taxes and tapping into reserves in a bid to spare their citizens. Even so, energy consumers are feeling the pinch, particularly at the pump.
Gas prices reached a new all-time high in Massachusetts Thursday at $4.79 per gallon, up three cents from Wednesday. Massachusetts remains above the national average of $4.71 per gallon, according to AAA Northeast. Harvard scholar Oleh Kotsyuba and Northeastern University professors Mai’a Cross and Pablo Calderon talked about how energy sanctions are related to inflation during NBC10 Boston’s weekly series, “Russia-Ukraine Q&A.”