A photograph taken on March 8, 2022 shows a board with prices of gasoline and diesel at a Shell petrol station, in Essen, western Germany. - Energy giant Shell said on March 8, 2022 it would withdraw from its involvement in Russian gas and oil, including an immediate stop to purchases of crude from the country. The company also said it would shut its service stations, aviation fuels and lubricants operations in Russia. (Photo by Ina FASSBENDER / AFP) (Photo by INA FASSBENDER/AFP via Getty Images)
President Joe Biden announced additional sanctions on Russia in retaliation for its invasion of Ukraine Tuesday, including a ban on oil imports. But how could this affect gas prices in the U.S.?
According to GasBuddy data, the U.S. national average set a new all-time record of $4.104 a gallon Monday, eclipsing 2008’s record.
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