they talked about regional issues and brief comments on ukraine. the president says he doesn t this ukraine will be a victory for putin. the president will motorcade across town to attend a fund raiser benefitting the dnc. neil? neil: i m not sure the columbian president is excited about us buying oil from venezuela. and drivers are trying to deal with the higher prices. madison has more. neil, they re trying to find the cheapest gas prices. that s leading people to costco and sam s club. the costco here selling gas for $4.14. that s below the national average of $4.32 per gallon. we re in new jersey. the state average is $4.38. all of that means that people
market. while stocks slip, oil prices are surging. prices not seen in nearly 14 years. the price of gasoline in the u.s. has reached an all-time high according to the oil price information service, the average price perfect gallon of regular gas climbed to $4.14 breaking a record set in 2008. the white house press secretary talked about the president s message. the president s message is that he s going to do everything we can, everything he can to reduce the impact on the american people, including the price of gas at the tank. what is also true is that because of the actions of president putin, because he invaded a sovereign country, that created instability in the markets. that is something the president talked about even before russia and president putin moved forward with their actions. and those actions have come with consequences. the list of businesses suspending operations with
an early start on money news. stocks in germany at record highs. record watch here, too. the big number today, anything above s&p 1900, achieved for the first time ever on friday. an important read on housing comes later this morning. you know, home prices have been steadily climbing. we ll want to see if there s a little bit of a slowdown in how quickly they ve been climbing. but the rising home prices have helped spur home equity loans. new data shows a 20% jump in new lines of credit last year. still, home equity loans far below 2006 levels. meantime, morning rates are still falling. the call for mortgage rates this year were they were going to go up and up and up. the 30-year fixed rate 4.14%, lowest since october. higher than a year ago, but lowest since october. when you look at the 15-year you know, the popular refinancing tool is a 15-year, 3.2% or lower. very low. very low. 39 minutes after the hour. gun battles on the streets of ukraine this morning as
white house. according to aaa, drivers are paying a average of $3.61 for a lal lon of unleaded fuel. three cents pop overnight than it was wednesday. stuart varney joins me. the anchor of varney & company on the fox business network. stuart, this was not a part of the huge discussion last night interestingly enough, but continues to be a big story. not a single question on the gas price run-up, in fact we re in middle of rapid surge phase at the gas price run-up. huge detail there, 3.61 is the national average up just three cents overnight. look at california for a second. here is what a surge is all about. 4.14 for regular there, up seven cents just overnight. look at cincinnati, pick some individual cities, cincinnati the price of regular has gone up 27 cents in one week. in los angeles it is up 24 cents in one week. right now we re on track to beat the previous record year, 2008, very, very
currencies. what could he do to strengthen the dollar? interest rates would have to go up. that would slow the economy, you would see. the man is in a blind. later on this morning, we ll find out that the economy really is slowing down, much less than 2% growth. at the same time, you ve got this nasty inflation problem, ben bernanke is trying to put a brave face on things. yeah, ok, so people out there, listening about inflation and things going up and down. they don t understand. they understand everything across the board food wise cost a lot more. when you go to the gas station, you have to see a loan officer. as of this morning, the average for regular gas in america is almost $3.89. it s gone up, i think, 37 straight days. diesel at $4.14. gasoline in california is $4.23. close to $430 in chicago. the feeling that s temporary is not something you believe in but at varney & company, you ll be talking about.