matt egan is back with where the prices are now, and what is behind the decline. well, kate, reasons behind them, and not all great news, but it is undeniably a great news. and look at this $3.53 a gallon from aaa and down almost a dollar from a year ago, and $1.50 of the record high of $5.02 a gallon, and half of the states are under $3.40 including new hampshire, georgia and north carolina and even one state averaging less than $3 a gallon which is mississippi where aaa says the national average is $2.57 which is down from $4.08 a year ago. the feds say that inflation has driven down the price of gas prices, and plus, the u.s. is
have a minimal impact on inflation. arthel: so the nonpartisan congressional budget agrees, the office agrees saying its effects will be negligible. so what will the bill do? let s bring in economist peter morici, former u.s. international trade commission chief, also business professor at the university of maryland. so, professor, unemployment rate is very low, 3.5%. gas prices dropping. less than two months ago the national price per gallon of gas was $501, today it s $4.08. a recession may or may not be looming, but inflation is still at a record high of 9.1%. so i ask you, what is driving inflation rates, and if this bill with doesn t bring inflations police station down inflation down, how will it help americans in their pocketbooks? well, it will hurt americans in their pocket ifbooks, and it will increase inflation. be clear about in the.
not down. there s nothing in this bill to reduce inflation. it grows the government. reporter: some good news for the white house and motorists, the price of gasoline has fallen for seven straight weeks, the average now $4.08 a gallon, down from an all-time high of over $5 back in june. some think now is not the time to spend more and risk those gas prices going back up. we re talking about this idea of supposedly reducing inflation if with proposals that a got us into this problem in the first place such as raising taxing and and spending. this is a crisis of overspending and overtaxing. reporter: the price of gasoline today is still $1.69 higher than when the president was sworn in. arthel? arthel: going down, needs to continue. hopefully it will. lucas tomlinson the. [laughter] thank you. mike? mike: republicans are feeling good about the midterms at cpac in dallas, but new polling shows the democrats may be gaining ground. plus, will the spending be on
that comes after beijing cut off contact on relations and climate change discussions following pelosi s visit. ukraine says russian forces have shelled a nuclear power plant. the largest plant in europe. the ukrainian official who spoke to nbc news says the radiation levels are normal but could increase at any moment, but there s a real risk of nuclear and radiation catastrophe if russia keeps selling the plan. and gas prices have dropped for the seventh straight week. the average cost is $4.08, down 70 cents from a month ago. we want to turn now to a development in the justice department s january six investigation. usa today is reporting donald trump s legal team is communicating with the doj, in an apparent attempt to block access to key conversations with his former top aides. nbc news has not independently
senate democrats. these are the same people that told you the american rescue plan would rescue you. this is a horrible idea. it doesn t reduce inflation, it s a vampire tax and reimposing it on imported oil, which will make gas go up not down. there s nothing in this bill to reduce inflation, it grows the government. some good news for the white house and motorists across the country. the price of gasoline has fallen for seven straight weeks and triple-a says the mantel average tore regular unleaded, 4.08 from a high of over $5 in june and some think now is not the time to spend more and risk the gas prices going back up. we re talking about this idea of supposedly reducing inflation with proposals that got us into this problem in the first place, such as raising taxes and spending and this is a crisis of overspending and overtaxing. the price of gasoline remains $1.69 higher than when president biden was sworn in.