thursday. first time that s happened sints 2008. gas prices dropping overnight by more than a penny to $3.82 a gallon. higher interest rates closing the market. the longest slump. 23.28%. the main dull prit culprit. off price stores like t.j. max and marshals are taking stock and you can take advantage when shopping for clothes, home goods and electronics. i want to bring in nathaniel myerson. what are they doing here? good news for holiday shoppers, christine. you can find great discounts and a ton of availability at t.j.
get somebody else to bail us out. that is so wrong with this picture. harris: did you see that picture? can we pump that backup? you brought that today. i mean, what irony that that conversation was happening, maybe not right for the photo, but the consolation of compost going on around that time. jason: joe biden was up for second election to the united states and address the united states senator right when jimmy carter was there. it smells, feels, and looks like jimmy carter. that is what this president has done, exactly the same mistakes. kayleigh: the fascinating parallel, emily and what does it mean for the viewer, the voter, $2.38 is what the gas prs were at when joe biden came into office and out $3.28 before this opec decision even happened. and you think there is a simple answer? no, it will not go to venezuela and other hostile actor. it is american energy.
meanwhile, as we mentioned, joe biden is going to hit the road and do a victory tour starting on thursday in montgomery county in maryland. one of the things he is going to talk about is, you know, i was able to bring down the cost of gas about 75 cents. you have heard his advisers sayings the prices of gas are down, down, down, when you take a look. today the price, according to a.a.a. is 390. a month ago as is you key 3.41. also 70 cents higher than it was a year ago at this time. one of the reasons you look at diesel it s still close to 5 bucks and a year ago it was 3.28. you have got to keep in mind the reason people are driving less is because the price is so high. it s also supply and demand. that s what is forcing the price down. katie: yeah. steve: there is also the issue it looks like it s going to boomerang. what has the driver there? they have not increased
white house, thanks very much. john: for more on the white house perspective, bring in the special presidential coordinator. so let me put up aaa gas prices, 4.16 currently down from 4.30 a week ago, down from 4.81 a month ago, but well off where it was a year ago. and diesel prices, currently 5.23. a month ago, 5.74. a year ago, 3.28. prices are coming down but diesel is still above $5 a gallon, and $2 a gallon more than what truckers were paying a year ago. should anybody really be taking a victory lap here? so first, thank you for having me. look, let s look at where we are and put in the right context. because you have broaden by a
gallon in may, flirting with $4 a gallon late in the spring, early in the summer, before falling sharply later in the year. and as you mentioned, that would reverse some of the recent relief we have seen at the pump. the national average is at $3.28, that s still high, up by about a dollar from a year ago. but it is also down 14 cents from the recent peak. there is three big factors behind this call from gas buddy. one, really strong demand as the economy rapidly recovers from covid. two, supply that has continuously failed to keep up. and, three, various refinery shutdowns that have limited the supply and production of gasoline. now, there are other forecasts out there, calling for prices at the pump to cool off in 2022. citigroup is calling for a radical drop in prices. the energy department s research arm recently predicted the 2022