Oil

The national average price for a gallon of regular gasoline reached $4.173 as of Tuesday, climbing 50 cents from a week earlier, according to AAA data.

Representatives of the energy industry Tuesday said the ban on Russian oil imports shows how important it is to develop domestic energy.

The CEO of ConocoPhillips hopes the Russia Ukraine situation will pave the way for more dialogue between the White House and the energy industry.

White House press secretary Jen Psaki and President Biden blamed Russian President Vladimir Putin on Tuesday for rising gas prices in the United States.

U.S. stocks hit with more volatility as surging oil prices deepened concerns about inflation and economic growth.

Sen. Bill Cassidy, R-La., joined “Cavuto: Coast to Coast,” Tuesday, arguing that Biden should be focused on lowering prices at the pump to help create more jobs for Americans.

The Democratic-led states of California, Washington, Nevada, Oregon, Illinois, Pennsylvania and New York have the highest gas prices in the country.

Mack Energy Corp. Director of Government Affairs Claire Chase argued that the United States is currently facing a “crisis of President Biden’s making” as it pertains to oil and gas.

The average price for a gallon of gas in the U.S. hit a new record high of $4.173 on Tuesday, according to AAA.

Exporting more U.S. gas into Europe can "reduce that dependence" on Russian energy, a trade association CEO said.

Biden announced a ban on all Russian oil, gas and energy imports to the U.S. which will directly impact Russia's economy. This decision comes amid Russia's invasion of Ukraine.