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What a potential ban on Russian oil could mean for U.S. gas prices

There has been a steady spike in gas prices as the war between Russia and Ukraine continues.

HOUSTON — U.S. lawmakers are talking about banning Russian oil, which could ultimately cost Americans more money here at gas pumps.

Friday morning in the Galleria area, a gallon of regular unleaded gas will cost you $3.49 which is about the average across Houston.

According to AAA, the national average is about $3.84, about 40 cents higher than what we're seeing in Texas. However, Houston has already seen a 20 cent price hike over last week, and 40-cents over the last month.

There has been a steady spike in gas prices as the war between Russia and Ukraine continues.

Now some U.S. lawmakers want to hit Russia where it hurts through energy sanctions, cutting off hard currency that flows into the country, to buy oil.

While President Joe Biden on board with the idea, he hasn't pulled the trigger yet for one important reason.

“What he does not want to do is topple the global marketplace or impact the American people more with higher energy and gas prices," White House Press Secretary Jen Psaki said.

And it’s not just gas prices that are going up.

Lingering supply chain problems from the pandemic and now the war is adding to the shipping problems, driving up prices and inflation.

Michelle Choi on social media: Facebook | Twitter | Instagram

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