Mar 7, 2022

How the war in Ukraine is fueling sky-high gas prices

Frederic J. Brown/AFP via Getty Images

The potential for a ban on Russian oil imports is prompting a surge in crude oil prices.

Segments From this episode

How rising oil prices make gasoline more expensive

by Justin Ho

Mar 7, 2022

Gas prices are based on oil prices, and traders are getting nervous about a potential ban on imported Russian oil.

Gasoline prices have surged along with the price of crude oil. The war in Ukraine has raised the possibility of a ban on imports from Russia, which could squeeze the global supply.

Mandel Ngan/AFP via Getty Images

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Why do we import Russian (and other foreign) oil when we have a lot of it in the U.S.?

by Andy Uhler

Mar 7, 2022

The way U.S. oil refineries are set up has a lot to do with it.

A pump jack operates in New Mexico. Though the U.S. has oil-producing regions, it would take a hefty investment to retrofit refineries to process light sweet crude.

Paul Ratje/AFP via Getty Images

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Ukrainian students in the U.S. face emotional, financial hardships

by Kristin Schwab

Mar 7, 2022

As the end of the school year nears, those students who cant or don't feel safe returning home will have to find housing and a way to pay for it.

For Ukrainian students in the United States, the emotional and financial toll of Russia's invasion hits hard.

Chandan Khanna/AFP Getty Images

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What it means to cut off Russia's economy with sanctions

by Mitchell Hartman

Mar 7, 2022

Closing off an economy as large and complicated as Russia's has far-reaching implications.

If Russia's oil and gas revenues in dollars and euros were shut down, it could lead to the country’s near-total isolation, something called “autarky.”

Kirill Kudryavstev/AFP Getty Images

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Ukrainians in the U.S. struggle to send money home as war rages

by Lily Jamali

Mar 7, 2022

In a typical year, they send more than $500 million to family and friends. Now, it's not easy.

The Russian invasion has complicated the process of sending remittances to Ukraine through money transfer companies like Western Union.

Gary Gershoff/WireImage via Getty Images

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COVID-19

After 2 years in the pandemic economy, businesses still face uncertainty

by Sean McHenry

Mar 7, 2022

But it's not necessarily the pandemic that's driving it. Three businesses on three continents share what they're seeing.

Small businesses have been through a lot of stress and uncertainty in the last two years, and the war in Ukraine is creating new challenges.

Sascha Schuermann/Getty Images

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Music from the episode

Go Gina SZA

Social Insecurity Oddisee

Carefully Little People

Notion Tash Sultana

Lush Four Tet

Inside Out Spoon

Pyramid Blue Richard Houghten

Hold On, We're Going Home Drake, Majid Jordan

The team

Nancy Farghalli Executive Producer

Daisy Palacios Senior Producer

Maria Hollenhorst Producer

Sean McHenry Associate Producer

Andie Corban Associate Producer

Richard Cunningham Associate Producer

Dylan Miettinen Associate Digital Producer

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