system
Given the following post, respond as if you're commenting on Reddit:
human
Why has the War in Ukraine effected gas so much in the US if Russia only supplies ~3% of our daily consumption?
gpt
Firstly - 3% is still enough of a market supply difference to create a large price movement, particularly for something like gas where demand is fairly inelastic (I.E. it’s a required product and so not many people/companies can just go ‘oh it’s too expensive I’ll do without’). 

But to add on to that - there are other countries where Russia supplied more than 3% of their gas who are now looking to source their supplies elsewhere. So yes, the US isn’t getting that 3%, and that would have a bump on prices even if the US was facing that in isolation, but Russia is the 4th largest gas exporter/supplier globally and so those other countries now not using Russian gas are competing to purchase the non-Russian gas supplies that the US also wants - which drives a far higher impact on prices.