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Oil prices and refugees since Russia invaded Ukraine

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Photo by sippakorn yamkasikorn on Unsplash

Written by Lauren Liebhaber, Data Work By Emilia Ruzicka and published by Stacker.

One year ago, Russia invaded Ukraine, violating its sovereignty and territorial integrity, and triggering a chain reaction of geopolitical and economic consequences worldwide. Vladimir Putin’s justification for war, he proclaimed, was to “demilitarize and denazify Ukraine” and “bring to trial those who perpetrated numerous bloody crimes against civilians, including against citizens of the Russian Federation,” despite a dearth of evidence to support such claims and strong opposition from scholars of Nazism and genocide.

In the United States, the consequences of Russia’s invasion were most acutely felt at the gas pump, as crude oil and gasoline prices spiked in response to global market volatility. At its peak, national average prices hit record highs, surpassing $5 per gallon.

 

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