President Joe Biden announced an import ban on oil from Russia on Tuesday in response to the ongoing invasion of Ukraine, and in addition to other severe sanctions imposed on the country by the U.S. and its allies.

"Russia's aggression is costing us all and it's no time for profiteering or price gouging," President Biden says directly to oil and gas companies. 

Petroleum experts said it’s hard to predict if and when gas prices will start to go down, but they anticipated the record-high prices would likely linger in the coming weeks as Russia continues its assault on Ukraine.

“As long as this war continues — and any further actions taken against Russia or Russia retaliating against the United States and its allies — it will have a big impact on gas prices,” said Aldo Vazquez, a spokesperson for AAA.

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