you mentioned it s very much a boom to bust scenario. does this last? is there any way to know? there is no way to know. if anything, the last few months have shown how hard it is to predict anything in this covid economy, certainly dwgiven the geopolitical concerns as well. but we already see gas prices level out. the national average dipped down to $4.32 a gallon. that s not cheap but it s a step in the right drirection. the national average by 20 to 25 cents a gallon in the next days and everyone watching closely to make sure this price relief gets passed along to consumers at the gas pump because big oil making a lot of money right now in high oil prices. last year alone, exxonmobil made $23 billion in profit. shell, chevron, bp, all making a lot of money last year. that s drawn some criticism from
commodity prices overall are going to put a strain on the economy. so you ve got a very mixed economic picture, good on the employment side, good on the economic growth side, but a real danger for inflation and the economy is still expected to moderate over the course of the year. that outlook has gotten cloudier as a result of this war, kate. that s a great point, john, thank you very much. as john is getting at, consumers pay more for basically everything. in the last two weeks, gas prices, especially have jumped staggering 78 cents given the war in ukraine. aaa reports the national average is 400, 400, it s $4, feels like 400 for many people. but vanessa yurkevich tracking this, what are you seeing out there? reporter: terrible is how one woman described these gas prices to me. we are at $4.32 a gallon nationwide. that is a new record. that s up 7 cents just overnight and as you mentioned, up almost
they have done credit russians reading from a cc to a triple c minus. as a country struggles to make that payments due to international sanctions, the sanctions have reduced russians foreign exchange reserves and restricted its access to the global financial system. and, the bank hsbc has nominated its financial institute to venture into the digital metaverse, requiring virtual real estate in the same box. the bank will use the site for marketing purposes. as well as for gaming and e-sports. all right, let s have a look through the morning s markets will start up in asia, the only one that s open right now, and you should you could see it s a bit of a mixed picture. as markets continue to watch the war in ukraine. we will look at the currency exchanges and how the pound currently trading a slightly up $1, $1.32, slightly up against zero. one year or 19. we ll look at the price of the bread crude, oil is continuing to soar in price because of the war in ukraine. currently it s at $108.9
goes up. bill: average gas prices today, $4 $4.32. last year $2.85. phil, you re back. go ahead and answer. windfall property tax is tax on americans. they ll be paying for it. i never seen more short sighted energy policy from any administration in history. it s not only the things that they done that are on the record, it s the invisible hand against the oil industry. investors are afraid to invest in american energy. this administration saying we don t like american energy. we want to get out of the energy business. we want our oil from places like venezuela and opec. everybody is for green energy and the transition, you cannot do it this way.weneedtoget thei
the blame game speed the second big reason for inflation is vladimir putin. the moment he put his 150,000 troops on ukrainian border the price of gasoline in january went up 75 cents. reporter: as of this morning the national averages $4.32 per gallon. earlier this week the president said the democratic party is in the strongest position and months but that hasn t helped him at the polls according to a new wall street journal poll for just 42 percent of americans say they approve of bidens performance of 57 percent say they are unhappy with the president. as gas prices skyrocket americans are fed up with the handling of the energy crisis particularly shutting down the keystone pipeline. i think the new slogan should be butchering booming business. literally pulled the rug out from under us and killed the