Gasoline has become more expensive given that oil prices have surged as the world recovers from the pandemic. Russia's invasion of Ukraine has also made things worse. Here are four things to know.

Gas prices could rise even further after hitting an average national price of $5 a gallon for the first time. Here are 4 things to know

The International Energy Agency plans to release 120 million of barrels of oil from their emergency reserves, including 60 million from a previously announced U.S. drawdown.

The prospect that the U.S. and its allies could impose new sanctions on Russian oil pushed energy prices sharply higher. The average price of gasoline in the U.S. hit $4.06 per gallon.

Oil-consuming nations will bring 60 million barrels of crude out of storage and onto global markets. It's supposed to calm oil prices down, but global crude went up on the news.

Oil surged past triple-digit prices for the first time since 2014. The breach of the psychologically significant milestone is bound to reinforce fears about inflation.

The torn underwater pipeline spilled tens of thousands of gallons of crude oil into the ocean, according to federal investigators.

Oil prices have risen remarkably over the last few months. Now the powerful oil cartel is keeping a lid on supply in an attempt to push crude prices even higher.