Americans and most of the world have been united in condemning Russia for invading Ukraine.
Now they might have to start putting their money where their mouth is as US lawmakers consider an embargo on Russian oil.
High inflation and rising energy prices amid the economy’s pandemic recovery were already making life more expensive.
Now, a little more than a week into Russian President Vladimir Putin’s war, California has become the first US state to have an average gas price above $5 per gallon.
Nationwide, US gas prices are “surging at a pace drivers haven’t seen since Hurricane Katrina in 2005,” writes CNN’s Chris Isidore, adding that the national average record for gasoline — $4.11, set in 2008 — is within sight. That would be a huge jump from a year ago, when the national average price was $2.75 a gallon.
The average price of diesel is also skyrocketing, which will drive up transportation costs for businesses.
