Why is the price of gas going up?
Normally gas gets cheaper in the first few months of a new year, as cold weather tends to keep us at home.
But in 2022 the price is going up. There are several factors driving the increase, but tensions half a world a way are not helping.
As the world watches and waits to see if Russia will invade Ukraine, oil traders are getting nervous and that's driving up the price.
Russia produced more than a tenth of the world’s oil in 2020 and military conflict or sanctions could disrupt that flow.
Oil production is another factor. Countries have been ramping up production, but global levels are still below pre-pandemic levels.
In the U.S., Shell’s decision to close a refinery near New Orleans and weather woes have reduced refining capacity by nearly three percent.
That has some analysis betting we could see record high averages for a gallon of gas in the U.S.
So what’s being done to lower prices?
Some politicians have called for a suspension of the federal gas tax for the rest of the year. That would save about 18 cents a gallon.
The White House is also talking with other nations about increasing production or releases from oil reserves. But AAA told CBS there's not a lot any politician can do to ease the pain at the pump.