killed, men, women, and children. far from ukraine, that conflict is also having a global impact on everything from airline routes to gas prices, and the increase in prices is impossible to ignore. here s cnn s gabe cohen. reporter: carissa warren s gas tank has been nearly empty for two weeks. with record prices, she s only adding enough fuel to get to and from her job and her daughter s day care. if to fill our tarcnks we wouldn t have enough for bills. reporter: the squeeze is getting tighter after president biden bailed russian oil exports. gas could now cost families an extra $1,300 a year. we like to be able to splurge from time to time, and it s not an option now. we re considering not doing a birthday party for our daughter because you can t afford to. reporter: economists say the price hikes are the expected result of shrinking oil supply and surging demand. but while that squeezes people like carissa, oil companies are
to relax regulations to make it easier for them to ramp up production which crashed in 2020 because of the pandemic. but some economists claim some oil producers are strategically stalling to keep gas prices high. they re currently sitting on more than 9,000 unused drilling permits for u.s. land. so the suggestion that we are not allowing companies to drill is inaccurate. reporter: the u.s. energy information agency projects u.s. crude oil production will reach a record high, but not until next year. that s even more frightening because we don t know when it s going to stop. reporter: for hard-working families like carissa s, little trips are now draining like visiting her mother who s about to have surgery. that s $80 out of my food budget now. reporter: it doesn t sit well that corporate pockets are getting deeper as her wallet takes a hit. it s just not fair. gabe cohen reporting for us, thank you so much. next, ukraine s president is demanding the release of the m