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Reached a national average of $4 a gallon. the highest in over a decade, as the biden administration considers banning russian oil. >> we are now talking to our european partners and allies to look in a coordinated way at the prospect of banning the import of russian oil while making sure that there is still appropriate supply of oil on world markets. that's a very active discussion as we speak. >> steve: okay. let's bring in host of varney and company on fox business. stuart varney. stuart, now the administration is considering sanctions on russian oil. it didn't make -- we had sanctions on e...

Fox. does the tree fall in the woods, right? if it's said at another network it is headlines. what do you make of this, the energy issue? >> the number one exports. 60% are oil and gas saying you'll put sanctions on apple and they can still cell iphones. the reality is, his weakness at home is preventing him from taking action abroad. gas prices at the pump are $1.69 higher than they were the day before he took office. according to aaa this morning gas is at 4.07 a gallon. the highest is 4.11. 4 cents away from being at the all time high. that doesn't leave a lot of room for energy sanctions. ...

Down to florida that she's missing out on. but what she experiences and what she does is basically ration her driving. and that's what a lot of americans are doing right now. she'll never go out except for when she has multiple errands to run on an efficient route. because every single dollar for her matters at the pump. you can imagine if the national average is 4.07, it's expected to continue to rise, jose. and so she's looking at her budget very, very closely and trying to maintain that positive attitude. >> j ling kent in los angeles. thank you so much. up next, what the u.s. should be d...

Other day she spent $3 a gallon on gas. the national average according to aaa for a gallon of regular, $4.07, a six-cent increase just overnight. it was $3.61 only a week ago. you know it's really driving these prices are the cost of oil going up because of the russian invasion of ukraine. we know that the cost of oil is really on a global market. and even though there's a pinch in europe and asia, it's also causing a price increase here. we've seen a 50-cent increase for a gallon of regular on average nationwide since that russian invasion of ukraine started about 11 days ago. we are getting ...

German chancellor and british prime minister johnson. however, at the press briefing with white house press secretary jen psaki the daylight between the administration and democrats on banning russian oil is certainly likely to come up. >> bill: average gallon of gas nationally 4 cents from an all-time high and we'll break the record. we're at 4.07, six cents higher than yesterday, 45 cents higher than a week ago and 60 cents higher than last month. california right now, cheryl casone, fox business network. california right now we have a picture, right? 7 bucks a gallon? >> 6 to 7 dollars a ga...