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The record, july 17th, 2008, when we saw a national average of $4.11, and experts say this bubble might not burst until we see prices as high as $4.25, maybe even $4.50 if you can believe that. this is just going up and up, john, and really at a time when it's really bad for a lot of folks. spring break on the horizon. not to mention the fact that people are returning to work and the return of commuting, something that the administration is really pushing for. this is going to be a big strain on people's pocketbooks. >> pete muntean, watching it very closely. thanks so much. russian attacks ...

>> no kidding. zelenskyy expressed thanks for the u.s. ban on russian oil and gas and encouraged other world leaders to follow suit. with gas prices jumping 8 cents overnight unclear if any other countries will join especially after the president noted that european countries in particular are even less energy independent than the u.s. is and might not be in a position to follow suit. overnight gas prices jumped to 4.25 a gallon just a week ago the average was 3.66. a month ago it was 3.47 and a year ago it was 2.80 for a gallon of regular and the president indicated it is going to get worse h...

>> reporter: tonight, aaa saying gas prices rising at the fastest pace in history. >> it is getting really expensive. it is almost $4. so it is kind of depressing. >> reporter: today's national average, $3.92 per gallon. a rise of more than 30 cents in just five days. >> when the price of oil shoots up significantly like it has, that's going to hit you in the wallet. >> reporter: patrick de haan of gas buddy says the national average may hit $4.25 by the end of march, a 60% increase compared to this time last year. for context, the highest on record is $4.11 in 2008. some states are already we...

4.25 for a gallon of gas. that's an eight cent increase overnight. some analysts suggesting in next month, we could see $5 a gallon gas nation wide. we did see oil prices drop a little bit today after they surged yesterday. president biden announcement we would stop importing russian flrj. prices cooling today after the uae announced it would encourage opec, that's the nation's largest producing oil nations to release more oil into the global marketplace. president biden has tried to encourage that in the past to no avail. if it's a big if, opec decides to release more oil, that could bring do...

Banned russian oil. today congress is trying to take it a step further with bipartisan legislation to ban russian energy imports along with russia's trade status, and it extends a civil rights law that would open the door for more sanctions. joining me is jolene kent, and punchbowl news pounder, jake sherman. what is the start of all the ice hikes? >> moscow is accusing the u.s. of conducting economic war. the people on the ground, drivers across los angeles and across the country, they are feeling new highs in terms of regular gas. $4.25 is the new national average per aaa.