we go back to washington d.c. we have this fox business alert, gas prices are up at the pump. the national average for regular gas, just a gallon, $3.92, that s up a penny today from yesterday, and as you know, every penny matters, doesn t it? more than 30 cents higher than a year ago, our gas prices are, and it could potentially get much worse. gasbuddy.com is revising its forecast saying gas could go way over the $4 mark. you know, the record is $4.11 on a national average basis. peter barnes knows all these numbers well, he joins us there washington with more. peter? reporter: hey, jenna. gasbuddy.com now predicts the national average price for a gallon of gas will peak between $3.95 and $4.35, 20 cents a gallon higher than its last estimate in january. all of this has fueled the political battle in washington over high gas prices. the senate just now voting down an effort to repeal $4 billion a
worried about the big oil companies. with high oil prices around the world. they ve got more than enough incentive to produce even more oil. that s why i think it is time they got by without more help from taxpayers who are already having a tough enough time paying the bills and filling up their gas tanks. not even an hour after the president spoke, the senate rejected the measure to repeal big oil tax breaks. it was nine votes short of the 60 needed to move the measure forward. all this came as the national average for regular gas inched up another penny today. $3.92 a gallon. luke russert joins us live. there was a poll. 79% of the people surveyed saying they re feeling hardship as a result of these gas prices. reporter: absolutely. that s one of the things you hear here throughout the halls of congress. both sides are trying to put forward their plan to lower gas prices. the vote you talked about today in the united states senate, that is something that has been
point out over the course of the day as this debate jun foelgds and over the course have the last few days in the senate and the house is that cutting subsidies to oil companies, you have heard the president talk about record profits, $80 billion last year, will by some bipartisan or nonpartisan accounts anyway, result in a small scale rise in the price of gas. they say it is counsel iter productive at this time. you have heard the president time and time again, political messaging, they say the keys to political messaging are consistency and clarity. consistency, we heard the president use some of the very same phrases he has used time and time again as gas prices have continued to rise. now, 3.92, a national average for the price of regular across the country. he talks about his all of the above energy strategy and the increase in domestic production. he talks about the decrease in dependency on foreign oil that has occurred under his administration. he says drilling is a good thing.
live pictures for you. looking inside the president s office, the oval office, a moment ago. with he sa y we saw some shots of him getting last-minute briefings before he is about to come out into the white house rose garden and talk about oil subsidies worth about $20 billion and that they should be scrapped. let s go to mike vaiquiera righ there watching this. reporter: what is happening down the street coinciding with what the president is doing, capitol hill and the white house acting in concert with heavy political overtones. $3.92, the price of a gallon of gas gone up about a penny a day a problem for the economy, a drag on the economy. a reminder to folks every time they pass the gas station of the rising price of gas and a political problem for the president. we have seen him trying to get out on offense on this issue time and time again, including that two-day trip for four states last week. today, he will call for
now they re managing my investments for me. and with fidelity, getting back on track was easier than i thought. call or come in today to take control of your personal economy. get one-on-one help from america s retirement leader. right now the house is voting the republicans budget proposal authorized by congressman paul ryan. the very latest. and a short time ago, the white house, president obama once again call on congress to put an end to subsidies for big oil company like exxon which he said made $4.7 million per hour last year. less than an hour later, the senate rejected a bill to repeal those very subsidies at the same time as the national average for regular gas inched up to $3.92 a gallon. mike viqueira braved the sunshine. one imagines the president is