over $3 a gallon, 3.04 in january. by july when we come out to do the summer period here it was up to 4.05. then it went up to 4.11. the monthly average was 4.06. look at the gap we are already at here. in january we started at 3.38. and now we are at 3.75. you can easily see the picture where we end up with $5 gas. this is a story clearly on many people s minds and not going away. gregg: so far the plan calls for nothing but sip pleamatic action against iran but the secretary of defense may be suggesting a very different plan entirely. so is the obama administration sending some mixed messages? martha: a new record for the federal government, but it s not the badge of honor that uncle sam wants to see. wait until you see how much red
for many people $4 a gallon gas is a reality. statewide average in california is 4.18. even the cheapest in the state in fresno 4.05. and in places like new york and connecticut prices are closing in on the $4 mark. something the analysts say we could see nationwide by the summer. the fox business network s gerri willis is with us. you say this $4 tipping point for consumers is coming but the question is when. the question is when. here is what will happen when we hit a nationwide $4. you can bet that people will be driving less. they will be car pooling and making any change they can to reduce that price. joe the ceo of oil told me look for every 50 cents that gas prices go up it shaves a full percentage point off of g.d.p. this has a big part of people s life they stop spending. fuel efficient cars become all the rage and you wonder what will happen to car prices as a result. they go up. 2008 gas prices at $4 a gallon
viewers, pat, to send some of their gas priceses which was prices which was really fun yesterday because you saw such a change in places like louisiana, jess pays 3.49, michelle pays 3.21, in tennessee, get out to california, it s 4.11. so what s up with the difference in prices? why do we see such a change between the coast and the middle of the country? exactly. you know, in wyoming today, they re paying 2.80, out in san jose, it s 4.05 a gallon today. a lot of it has to do with refineries, what type of oil they re using to process into gat into gasoline. in the rockies gas is so cheap because they use cheap canadian crude oil, as well as crude oil from north dakota that s selling at a huge discount to the type of oil that s used in california. and also in california, they re starting to switch over to summer gasoline. that costs more to produce. so there s a whole lot of different variables across the country. just really depending upon what type of oil is used in the refinery
doug? reporter: that s right, jon at this liberty gas station in chevy chase, maryland. gas prices for premium grade are already spiking over $4. 4.05. i don t know if you can see. the car pulled in front of the sign. timing is always perfect. little higher than it tends to be in localized area. this is closed suburb and pay high rent and state of the maryland where the democratic controlled legislature and democratic governor have been trying to raise the gasoline tax and tends to be higher than surrounding jurisdiction. make no mistake about it, this number gives any sitting president absolute fits as well as his campaign staff. look at this chart we ve got here for you. it was compiled by professor larry sabato, political scientist at university of virginia. shows uncanny correlation between a president s unpopularity and high gas prices dating all the way back to the carter administration. so as the price at the
the sign. it s $4 degree it s $4.05. this is also the state of maryland where gasoline taxes are higher than surrounding jurisdiction. but this is where the rest of the nation is head for regular gasoline it many largely a reflection of a lot of refineries being offline as they prepare for the summer blending season. but also because of a lot of unrest from the middle east. but no mat wear the cause, there is one person who always takes an inordinate share of the blame for rising gas prices and it happens to be that person sitting in the oval office. take a look at the chart we have to show you. there is an uncanny correlation between presidential unpopularity and high gasoline prices. here is larry sabato from the