Gas prices in Utah and across the country have spiked dramatically in the last few weeks, driven in large part by the economic fallout from Russia’s invasion of Ukraine and further heightened by President Joe Biden’s decision, announced Tuesday, to ban U.S. imports of Russian oil and gas.
But besides the record-high prices for gasoline and diesel fuel, which not only hits consumers at an everyday level but can push up prices on a wide variety of goods and services, what other economic impacts could Utah residents and businesses expect to see as Russia’s military aggression toward Ukraine approaches the three-week mark?
On Tuesday, the Salt Lake Chamber convened a panel of local business and economic experts, along with Utah Republican Sen. Mitt Romney, to discuss how well Utah is situated to weather the unrest as it continues to unfold and disrupt global economic systems.
Romney, who is a…
