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Financial sector and their banking system as well as their economy. at the end of the day, all of those can be used to also rebuild and make sure that russia understands. if they back off and take a diplomatic ramp, there's opportunity to be able to have peace. >> sandra: a firm messive from you that the u.s. is trying to send to vladimir putin. thanks for your time. thanks for joining us. >> thank you. >> sandra: more on the russia show down with joni ernst coming up. and ahead of a key inflation report thursday, what does the maker of a major food company telling us today? with pump prices s...

Consumers, because on the oil side, you know, it's a global oil market and pump prices in your hometown and my hometown follow the price of crude oil globally with a three-week lag, and we're at the highest level since 2014. we have to be a little careful about how we do oil and gas exports. that should be done very carefully so as to not really make it worse for us. >> and crude is hovering around $100. these are prices we have not seen since 2014. what do you make of that? >> well, you know, we are back to a fundamentally tight market. you know, supply and demand are in a tight balance. we a...

The u.s. and other countries have agreed to release 60 million barrels of oil reserves to bring relief but so far it's proving to be just a drop in the bucket here's tom costello. >> reporter: bad news for anyone who uses gasoline just take a look at pump prices. >> i'm scared. i don't want to pay, like, 10 bucks a gallon. >> reporter: the national average has jumped four cents in just one day to $3.65 a gallon, up 12 cents in a week, 25 cents in a month. california pays the most, averaging $4.86 a gallon >> over the course of the weekend, it would not be surprising that motorists can step out...

Putin, you can medoro or iran or some other regime. the only way out of this, go back to the trump policy, the oil and the industry in the u.s. is unleashed. we encourage all forms of energy, coal, oil, gas, solar, whatever. whatever makes the most economic sense. that's the only past forward here. the biden administration has resisted that. as a matter of fact, they're doing the opposite. they're trying to shut down fossil fuels. and now oil and dwas t gas especially. they're doing everything they can to get prices high. i don't believe for a second jen psaki or joe biden's claim they're work...

Going to be, in some cases fatal. ~ , , , . , fatal. with pump prices especially _ fatal. with pump prices especially for _ fatal. with pump prices especially for diesel - fatal. with pump prices especially for diesel forj fatal. with pump prices - especially for diesel for which russia is our biggest source of imports also surging to do records what was already a crisis for living standards risks becoming an emergency. faisal is lamb, bbc news. some relief from those inflation concerns though on wednesday as the price of oil plunged. brent crude at one point falling by $22 a barrel or i7%. th...