How Floridians are preparing for potential financial impact of Russia’s attack on Ukraine

SEMINOLE COUNTY, Fla. — Floridians are preparing to possibly pay more at the pump after Russia’s attack on Ukraine.

Thursday evening, gas prices are hovering around $3.49 at stations here in the Oviedo area, but several drivers said they were topping off their tanks and bracing for steeper prices.

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Crude oil prices surged overnight after Russia launched its invasion of Ukraine. Russia is the world’s number two producer of oil. The U.S. benchmark reached $100 dollars a barrel.

But, throughout the day, we’ve seen them come back down as we’re learning more information about the sanctions impacting Russia.

READ: Russia attacks Ukraine: Biden says US will defend NATO soil, won’t fight in Ukraine (live updates)

Mark Jenkins with AAA said if oil prices settle at the $92 mark where we have been the past few days, we could be insulated from any immediate impact at the pump.

“So it really is going to be interesting and important to see where crude oil prices go in the next couple of days,” he said, adding, “That’s going to impact where prices at the pump move.”

READ: Biden announces sanctions on Russia for Ukraine invasion

Financial advisors like Kimberly Stewart of Orlando were busy as they saw a lot of selling off of stocks. Stewart said the key is to stay calm as we have survived geopolitical events like this in the past.

“If you have a plan, this is a great time to speak with your financial advisor, review your investments, take a look at your allocation,” Stewart said. “And to be quite frank with you, this may be an opportunity to take some time to rebalance your portfolio and make some necessary changes ... so that we can’t panic.”

Russia attacks Ukraine: What you need to know Ukraine urged caution after Russia announced withdrawal from the city of Kherson. (NCD)

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