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We haven't seen 10% inflation since 1981. what's key to note here is russia is the second most oil-producing country. prices at the pump also moving up, hitting $3.51 a gallon today, a seven-year high, and in california they're at a record above $4.71 a gallon. but this isn't just about the price at the pump. higher gas and oil prices means it's more expensive to heat your home, more expensive for electricity, airfare. it gets harder to expense your goods. you put it all together, you can see how you get to the 10% inflation. americans will feel the brunt of this from a financial perspective. ...

If you're in california you're kind of laughing at that when they are going to have a brush with $5 a gallon. we rose this past fall, california was the only state to see a new kind of quote, unquote all-time high, $4.71 and change. we're probably going to get there again, if we're not there already, within the next 24 hours or so. the next quarter it's right for it nationally to get up to 4$4 gallon. let me ask you about the russia factor. maybe vladimir putin is withdrawing troops. we don't know if that's a head game. what happens to energy prices if russia invades ukraine. walk me through t...

Cross the polish border. a full-scale invasion? >> sure, if troops are coming to lviv, that would definitely influence our decision. >> reporter: now, there was that major cyber-attack that you mentioned earlier tonight. it shut down the web sites of the ministry of defense and a couple of major banks. everything was up and running in a couple hours. people we spoke to said this was probably something to test the system. norah. >> o'donnell: charlie d'agata in lviv, thank you. tonight, president biden warns that harsh sanctions on russia could have significant blow-back on the u.s. economy, in...

If you are watching in california, your average is $4.71 a gallon and that's painful for millions of americans. tens of millions of americans and it's putting major pressure on president biden to do something about it and one thing that he wants to do is to get saudi arabia to produce more oil. but will the saudis do it? nic robertson is out front. >> reporter: at the gas pump, prices up. reaching eye-watering levels. saudi arabia, a swing producer and other opec nations are upping output. but not enough to bring down prices. oil now $80 a barrel, almost doubling on a year ago. president joe b...

West virginians. good day in lot of different ways. west virginia is on the move. when i came into being 14 months ago we were having a pretty tough go of it. we put together a lot of different things with a lot of people. i surely don't take all the credit by any stretch of the imagination. we're growing at 4.71% now. we're really, truly on the move. yesterday was the day that we stepped up to the plate and said, education ought to be our centerpiece. i said that on day one. not only should it be our centerpiece. it should be something we invest in. we're drifting in education nationally as w...