Gas prices are on the rise around the Riverbend, but the region isn’t alone. Factors like historic inflation and a possible Russian invasion of Ukraine mean gas prices are rising across the globe, with no stability yet in sight. There is currently a 50-cent price difference between gas prices in Jerseyville ($3.69 per gallon) and Alton ($3.19). Surrounding communities like Godfrey and Edwardsville land somewhere in the middle, typically around $3.50 per gallon. Despite the fluctuation in local prices, Riza Demirer, professor of Economics and Finance in SIUE’s School of Business, said the price of gas depends more on global factors rather than local factors. “Gas prices are directly affected by global energy prices and crude oil prices,” Demirer said. “Crude oil is a global commodity that is priced in global markets, not in the U.S.” That being said, Demirer said the Biden administration doesn’t actually have that much control over
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