CNN reporter Vanessa Yurkevich told anchor Kate Bolduan on Tuesday she had spoken with American drivers who said they would gladly pay more for gasoline if it meant it would hold Russia accountable for their invasion of Ukraine.
"So if you look at it globally, if the European Union decides to do something similar as to what President Biden is going to be doing in his announcement, stopping all Russian imports of energy into the country, that could have a significant ripple effect on the global energy market, then pushing prices here at home at the pump a lot higher, Kate. But as you mentioned, people we’ve spoken to over the last couple of weeks, they’re okay paying higher prices if it means holding Russia accountable for what they are doing in Ukraine," said Yurkevich.
"But these prices are likely going to creep higher, Kate. We’ll see how they feel in the next week or so," she added.
Nationally, the average price of regular gas is now at $4.25, a new all-time high, according to AAA.
Biden announced he is banning all imports of Russian oil in an attempt to hit the Russian government in their most lucrative export. While not making up of the majority of U.S. oil imports, the U.S. had doubled its crude oil imports from Russia last year.
"Today, we are targeting the main artery of Russia's economy," Biden said. "This is a step we're taking to inflict further pain on Putin, but there will be costs as well here in the United States. I said I would level with the American people from the beginning, and when I first spoke to this, I said defending is going to cost. It's going to cost us as well in the United States."
He further pushed for the country to transition "to clean energy" as that is the only true way to "protect our economy long term."
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