and boston, $3.21. the price is on the upswing as violence is spreading in libya. a member of opec, oil speculation is ramp ant with new threats of supply disruption there. libya produces nearly 1.7 million barrels of crude oil a day. take that much oil off the global market, and analysts say pump prices could skyrocket. you re looking at a government who or a country that has the largest oil reserves in the continent of africa, a major exporter to subsaharan africa as well as major countries like italy and others. reporter: bp and shell gas companies have pulled their families out of libya. bp has also stopped its onshore drilling operations. we are monitoring the situation in libya very carefully about where our employees are, to make sure that they are safe. we ve certainly passed that information on, and right now, i
say, 5% or 6%. hmm. also keeping an eye on capitol hill. the search for a deal on extending the so-called bush tax cuts. first, story hitting all ever us in the wallet. hit me last night as i filled up. gas prices. new survey says we are going to see prices averaging about $3 a gallon or more by christmas. some cities already seen that $3 a gallon mark. long island, new york, $3.21. $3.09 in chicago. $3.19 in san francisco. why? why? why? chief business correspondent ali velshi, why? i know, drew, you specialize in finding hidden answers behind a lot of issues. this is san easy job. no hidden answer. the price of oil has been going up. when we saw gas at $4.11 back in the middle of 2008, oil was almost $150 a barrel. now, oil is $90 a barrel. pretty high, considering we all feel like we re in a slow economy. keep in mind, china s not in a slow economy. asia, the rest of asia is not.