In the United States, the soul of the people threatens to boil if a liter of gasoline costs the equivalent of one euro.
This is happening.
Gasoline has settled at just above $4 a gallon (3.78 liters) on average across the country.
President Joe Biden's decision to halt oil imports from Russia is likely to push prices higher.
Political opponents will use this development to draw Biden as president of inflation at this year's midterm congressional elections.
This scenario had prompted some of Biden's advisors to warn him against such a step.
Winand von Petersdorff-Campen
Economic correspondent in Washington.
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On the surface, the import ban is not a big deal for the American economy.
So far, Russia has supplied crude oil and products resulting from further processing in refineries.
Deliveries in 2021 covered just 3.7 percent of demand.
The state of Hawaii seemed to be particularly dependent on crude oil deliveries from Russia, with a share of 10 to 25 percent in imports.
Hawaii primarily uses it to generate electricity.
A few days ago, however, the state stopped imports from Russia, and other refineries on the mainland made the same decision.
There is a beacon of hope
However, this means that the refineries have to procure the raw materials from other suppliers, with the corresponding price-driving consequences.
The United States itself is now the largest oil producer in the world.
The Energy Information Administration EIA expects the corporations to ramp up production this year to 12 million barrels a day and even surpass the record daily production of 12.3 million barrels next year.
But this year they will still be dependent on daily crude oil imports of 3.5 to 4 million barrels a day, as the EIA calculates.
With other countries like Canada also having or about to impose import bans, global demand is struggling to keep supply from shrinking.
The Biden government is reacting to the impending shortage with several initiatives.
There have been initial talks with Venezuela, a country with huge oil reserves, about a possible relaxation of sanctions.
The country, run down by a socialist dictatorship, has signaled a willingness to ramp up production, but there are doubts about the country's technical capacity.
The second beacon of hope for the Americans is Saudi Arabia.
Relations between the two countries had cooled off at the latest after the murder of Washington-based journalist Jamal Kashoggi, who, according to American intelligence, was commissioned by Saudi Arabian government agencies.
Apparently, Biden is now checking whether he should visit the country personally in March to mend the relationship and emphasize a core concern: Saudi Arabia, along with the United Arab Emirates, is one of the few countries that has significant reserve capacity to relieve the oil market by increasing production.
However, a visit could be politically sensitive.
The current negotiations with Iran on the renewal of the nuclear agreement could also play a role.
A new deal would allow Iran to sell oil on international markets.
America would stick to its embargo, but would lift so-called secondary sanctions, one speculation goes.
Then other countries could buy oil without fear of US punishment.
Meanwhile, on the home front, Biden is looking for ways to keep the price jumps small and cushion them socially.
The release of crude oil from the national reserve is part of the plan.
He is apparently considering suspending the petrol tax.
The president not only has to fear higher prices, but also his political opponents.
The Republicans characterize the Democrats as a party that stands in the way of the country's energy self-sufficiency because it has made new subsidies significantly more difficult and also prevents projects such as the Keystone pipeline.
The White House argues that these regulations do not restrict America's oil and gas producers, which still have 9,000 unused claims.
In addition, the expansion of renewable energy is an important contribution to America's attempt to become independent of energy supplies.