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DENVER (KDVR) — Conflicts in major oil-producing nations usually result in some kind of global impact.

The price of a gallon of gas is officially higher than it has even been. AAA listed a nationwide average price of $4.17 per gallon of all gas types on March 8, edging just above the previous record set in 2008.

Economists warn that gas could reach as high as $5 per gallon as the U.S. and other countries ban importing Russian oil, an action that capped a series of sanctions Western countries have directed against Russia. Oil prices, which are roughly 70% of the cost of gasoline production, could shoot up to an unprecedented $200 a barrel.

As a major oil-producing country, Russia’s energy supply is tied to global gas prices. Though there are many more factors at play in the global oil market, wars in and near major oil-producing countries coincide with price spikes at U.S. gas pumps.

The U.S. is the world’s largest supplier of oil, meeting 20% of the world’s supply in 2020. Next came Saudi Arabia with 12%, Russia with 11%, Canada with 6% and China with 5%.

Iraq, United Arab Emirates and Brazil each produced 4%, and Iran and Kuwait each produced 3%. These 10 countries together drilled three-quarters of the world’s oil in 2020.

The largest jumps in average gas prices adjusted for inflation have occurred near some of the 20th and 21st centuries’ major Middle Eastern conflicts.

The Yom Kippur War, Iranian Revolution of 1979, Iraqi invasion of Kuwait, U.S. Operation Desert Fox, U.S. Operation Iraqi Freedom and U.S. Operation Enduring Freedom each came in the middle of a spike in U.S. gas prices or immediately preceded them.