NEW YORK – Another big leap for oil prices threatened Monday to squeeze inflation’s grip on the economy.

U.S. oil prices surged to $130 overnight on the possibility the U.S. could bar imports from Russia.

Oil prices have soared recently on worries that Russia’s invasion of Ukraine will upend already tight supplies. Russia is one of the world’s largest energy producers, and oil prices were already high before the attack.

U.S. House Speaker Nancy Pelosi, a California Democrat, said in a letter to her colleagues Sunday that “the House is currently exploring strong legislation” to further isolate Russia because of its attack on Ukraine. That could include a ban on imports of Russian oil and energy products.

It’s a major step that the U.S. government has not yet taken, despite a long list of moves to punish Russia.

A gallon of regular gas already costs an average of $4.065 across the nation after breaching the $4 barrier on Sunday for the first time since 2008. A month ago, a gallon averaged $3.441, according to AAA.