10 to 35 cents a gallon. $4.23 is the national average. you could get below 4 for the summer and stay there if this plan works as they want to. the administration will be releasing 1 million gallons of oil a day. that s potentially 180 million gallons. 30 million were released in march after 50 million tapped last november. there are new concerns about an energy crisis in europe. vladimir putin is doubling down to cut off natural gas supplies to companies that refuse to pay in rubles. nina dos santos has more. what does the move mean for the rest of europe? reporter: it s very worrying and raises the prospect of russia which is the biggest
that the talks look like a dialogue. they are going to resume talks, not face-to-face as they were in istanbul on tuesday, but rather, via video conference. so this is, i don t know how many rounds it has taken so far of these negotiations, but they really haven t accomplished much at this point. ukrainians from the president on down don t have a lot of faith in russian good intentions. and of course, tomorrow when those talks resume online is april fools. kate? ben, thank you. in a couple hours, president biden make a big announcement to try to lower gas prices by tapping into the nation s strategic oil reserve. nationwide, a gallon of regular gas averages $4.23. that s an increase of 60 cents in the last month.
leases they haven t used in years. reporter: the national average now $4.23, the price of a gallon of gas up $1.36 from a year ago, and up more than 60 cents in just the last month since russia invaded ukraine. we have seen some measure of relief in the last couple of weeks. oil prices have backed off of the high. as a result of the spr announcement today, the downturn could accelerate and the national average could fall back under $4 a gallon, as long as nothing changes over the next three weeks. reporter: in california, where gas is now $5.90 a gallon, the most expensive in the nation, relief can t come soon enough. this is insane. what do they think we are, all rockefellers? reporter: sergio says it s getting difficult to fill up his company s trucks. you look at $600 to fill up that truck. it s all going up and up. when is it going to stop? and that s exactly what people want to know. let s bring in rebecca jarvis. and rebecca, give us a sense how long it could take f
of oil goes down, it s not reflected to the consumer as quickly. so they re trying to do something to push that price down even further. things are better today. still high prices but better today than they were just a week or so ago. the national gas average right now, the current average $4.23 a gallon. a year ago, $2.87. but it s down 10 cents, down a dime a gallon from just not that long ago. even yesterday once the white house signaled it was going to do this, oil futures went down. it has an immediate effect. it does. and it is a lot of signal sending. you are exactly right about what we re hearing from the white house and democrats about oil companies not necessarily passing on their savings to consumers. our colleague rene marsh did an amazing piece saying just that. but that doesn t change the political reality for the white house. for democrats who are on the ballot, who are incredibly concerned about the fact that, yes, the president is understandably putting so much
open to proceeding as much as possible in terms of oil and west virginia and pennsylvania and ohio would like to give us natural gas. but what do i know? i m just a talk show host. you re right. the democrats are in panic mode, in freefall, because they created this crisis. i enjoyed watching your video of pete buttigieg talking about wild price fluctuations. when joe biden became president, the average price of gasoline was $2.38 a gallon. today, it s $4.23 a gallon. it s nearly doubled in 15 months under joe biden. they ve waged a war on domestic energy production. they canceled the keystone pipeline. they shut off leases in federal land. they shut down drilling in anwar. all of that is delivered. it s what joe biden promised. he told democratic primary voters, if you elect me, i ll