Although the United States barely uses Russian oil, Russia's invasion of Ukraine is still a big factor in the gas-price spike -- among several other reasons.
Oil industry experts say there is little to no evidence that gas stations are price gouging you amid soaring costs.
That iron resolve may or may not be cracking, however. In one confusing development this week, the United Arab Emirates' ambassador to Washington told CNN that the country wants to increase oil production and will encourage its partners in OPEC+ to do so. But later the UAE's minister of energy and infrastructure tweeted that the nation will to stick to its OPEC+ agreement and gradually raise production.
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