skyrocket unfortunately, jumping another nickel overnight. with us now, christine romans, anchor of early start and chief business correspondent, to break down some of these numbers for us. what are you seeing? it s unrelenting. you feel like you have to fill it up every time you go to the gas station because it s going to be more expensive the next day. that has been the trend. a record run for gas prices. aaa reports the national average jumped to $4.92 a gallon, up 30 cents from last week. people are flying and driving more than they have in the past two years. oil supply just can t keep up with that booming demand and the world s big energy producers have been slow to try to ramp up production after covid. a crude oil, the biggest contributor to gas prices, u.s. crude three-month high even after the biggest producing nations opec plus, promised to pump a little bit more and the major oil producer russia launched a destabilizing war, already running hot gas prices have added $1.
states do them. that is the question. how do you make it politically vanl advantageous for someone like rick scott in florida to figure out yes, this will work for me, i won t lose my seat and it is the right thing to do. and how do you do it with a begin lobby, nra, that is against almost any of these measures. let s talk about gas prices quickly. up another nickle overnight. yeah. aaa says today s national average for a gallon of regular, $4.92. ten states are now averaging over $5 a gallon. the question is what to do about it. phil mattingly asked the white house. are there new initiatives, new policy proposals that your team is working through right now that could possibly have an effect that you could roll out in the weeks ahead as prices continue where they have been. everything is on the table as you heard us say the last couple of weeks. but we re going to continue do everything that we can. i don t have anything to preview for you. everything is on the table but no n
control, while on capitol lawmakers pressed the administration for answers on another urgent matter, the u.s. economy. we re seeing high inflation in almost all developed countries around the world. treasury secretary janet yellen says despite soaring inflation, record gas prices and a sagging stock market, the u.s. economy remains strong overall. we ve experienced a robust recovery, characterized by strong economic growth, historically low unemployment, and high household savings rates. critics argue inflation is hurting the savings. they re hurting the poorest family, people on fixed income, people retiring having to go back to work. overnight ogas prices climbed another five cents, establishing a national average of nearly $4.92 a gallon. it s painful to go to the gas station. the white house insists it s doing everything to control
the inflation over the past month. larry: a factoid, i know you like facts, inventories of gasoline called gasoline stocks are falling, so it s down by 700,000, according to the energy department. 219 million barrels down, gas supplies are falling, simple. gas demand is rising, even at the higher prices it s still rising so the chances of higher gasoline prices are very substantial. 4.92 today, right. 2.40 at the biden inauguration. diesel, 5.68, both are all time record highs, and you are more than double the natural gas price so a home heating problem and perhaps an electricity problem. people know this. world oil is running at about $120 a barrel, we ll leave it
reporter: she said inflation is at unacceptably high levels but this is a global problem. that families around the world are dealing with the high cost of living right now. listen to this clip from the treasury secretary. we currently face macro economic challenges, including unacceptable levels of inflation, as well as the head winds associated with the disruptions caused by the pandemic s effect on supply chains and the effects of supply side disturbances to oil and food markets, resulting from russia s war in ukraine. the biggest pain point here is obviously high gasoline prices. national prices have hit a record in 28 of the last 29 days. the new record, $4.92 a gallon, up 30 cents in just a week. and a year ago, it was $3.05 a gallon. there s now 13 states that have