BREAKING: Biden To Make Major Move On Russian Oil As Gas Prices Skyrocket To Historic Highs

Democrat President Joe Biden is set to ban the importation of Russian oil, following Russia’s invasion of Ukraine late last month, which comes as the U.S. is facing skyrocketing gas prices.

“US to ban imports of Russian oil,” Bloomberg News reported. “White House announcement as soon as TODAY.”

SCOOP: US to ban imports of Russian oil, sources tell @annmarie @SalehaMohsin and me. White House announcement as soon as TODAY.

— Jennifer Jacobs (@JenniferJJacobs) March 8, 2022

The national average price of gasoline set a new all-time record on Monday, blowing past the previous record that was set more than a decade ago in 2008.

“The national average price of gasoline in the U.S. today broke the existing record, rewriting the all-time high to today’s $4.104 per gallon,” GasBuddy reported. “The previous all-time high was set back in 2008 at $4.103 per gallon, just ahead of the U.S. Great Recession and housing crisis.”

GasBuddy, a platform that collects data on fuel prices to save consumers money, added that the price of diesel was “likely to break the record of $4.846 per gallon in the next two weeks.”

“In addition to setting a new all-time high, the national average is seeing its largest ever 7 day spike: 49.1 cents per gallon, eclipsing the 49.0 cent weekly rise after Hurricane Katrina in 2005,” the company’s statement continued. “On Saturday, the U.S. national average gas price surpassed $4 per gallon for the first time since 2008, and Friday’s spike alone came close to the record daily rise of 18 cents per gallon, increasing nearly 16 cents per gallon in one day. Diesel prices, however, did break records on Friday, as diesel soared to its largest daily gain ever: 22.2 cents per gallon, 6 cents higher than the previous record from 2013.”

AAA reported on Tuesday morning that the national average price for gas had risen to $4.173 per gallon.

This is a breaking news story; refresh the page for updates. 

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