evidence: Gas prices in the United States have increased over the last few months–in part because of Russia’s invasion of Ukraine. To help better understand how global unrest can have such a profound effect on our gas tanks in America, PBS NewsHour Digital Anchor Nicole Ellis spoke with Tom Kloza, the Global Head of Energy Analysis at Dow Jones’ Oil Price Information Service. Watch the conversation in the live player above. Despite the average retail price of a gallon of gasoline rising by 25% in the past two months and by about 70% since President Joe Biden took office, Kloza said there’s very little a sitting president can do to change or influence the price Americans pay at the pump. According to Kloza, the financial strain on oil companies predates the Biden administration, dating back to 2008 recession related bankruptcies, which has made investors less likely to invest in oil companies and new drilling. "Before President Biden took office, Wall Street was burned by oil and gas companies," Kloza said. "Wall Street, and to a certain extent the banking community, said ‘we don’t want to lend you money to drill for more oil’."