assessments of the federal reserve and outside economic analysts who give an assessment of how long it will last. the expectations and their assessment continues to be it will moderate by the end of the year. sandra: this is tough, this is tough. people do want to know when it s going to end, it s tough out there. of course, of course. sandra: gas prices, national average, 4.33, up a penny from yesterday. obviously climbs big time from a week ago and a year ago, david, 2.83, it was up a buck before the invasion even happened. that s the point. it s not necessarily where it ends, it s where it began. it began long before the russian invasion was on our radar screen. it began back in december, we saw there was a 58% year over year price increase in gas at the pump. 28% before the russians were on the radar screen. we should mention there is another narrative from jen psaki that in fact back in december we
on the show today. now to another fox news alert. the price of gas. we are seeing it right now, skyrocketing across the country. pete: joe biden is shifting all blame to vladimir putin. he is offering little support for u.s. energy production. will: todd piro is live in upstate, new york with the latest on the energy crisis. todd? todd: good morning to you, will, pete, and rach chevment as we all know as the u.s. and other western allies work to cut off russia s economy americans feeling the pain at the pump. take a look at these nuns. we are here in port chester, new york, if you want to fill up with a credit card and you just want regular it s going to cost you 4.69 a gallon. right now, of course the average price for regular gas $4.33 per gallon across the nation. up more than 40 cents from this time last week. up nearly a dollar from just a month ago. at this time last year a gallon of gas only costs $2..83 on average. boy, what a difference a year
playing the game. crazy inverted yield curve. we should be easily reaping big rewards and gains but the fed is holding us back. we will win. wow! that s a lot. the dow is off 745 points. 2.83%. i m going to put a crack team on interpreting that tweet and i ll tell you about it on the other side. congressman steve king of iowa questions if humanity would even exist without, quote, rape or incest. yep, he said that, too. more on that after the break. plus, we continue to learn about the impact of the massive ice raids in mississippi in which hundreds of undocumented immigrants were arrested and taken into custody. after the break, we ll hear from employees at a poultry plant targeted in those raids who are now out of work. you re watching msnbc. here you go little guy.
we re back with a look at the markets as the trading day comes to an end. let s see what s going on in the dow. unless something changes in the next couple of minutes, this is going to be the largest percentage drop of the entire year. the dow is down 775, not large point drop because that s not actually the way it works. the dow is much lower now than the last time we saw a big point drop. so we re getting a percentage drop of 2.91%. we had a percentage drop on january 3 of 2.83%. i know it s tempting to look at the points but you have to look at the percentages because that s how your portfolio grows or shrinks. we re now going to close the day almost 3% lower on the dow. let s look at the other indexes.
highest gas prices for a labor day holiday in the past four years with the national average of 2.83. it is expected to go down to 2.70 per gallon with lack of demand after the summer, and the switch to cheaper winter blend gasoline. businesses are looking forward to high consumer confidence and low gas prices as we head into are you ready? the holiday spending season. because i didn t invent this number, we re only 16 weeks away from christmas, molly. had to say it. molly: so many things to keep up on. i learned something, a winter blend. i didn t know. good to know. we re getting ready for the winter blend already. thank you. connell: fox news alert. a tropical storm formed overnight headed for the gulf of mexico. how will this affect gulf coast states? molly: senate democrats angry about what they say is a