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Transcripts For CNNW John King USA 20120223

gasoline prices jumped 3 cents a gal just overnight to a national average now of $3.61. that makes 16 straight days of higher prices. and experts say we re heading for $4 a gal gas by summer if not sooner. president obama seized the political warning signs and knows the attack s already coming. this afternoon in florida he tried to stay ahead of the curve. since it s an election year, they re already dusting off their three-point plan for $2 gas. and i ll save you the suspense. step one is to drill and step two is to drill. and then step three is to keep drilling. anybody who tells you that we can drill our way out of this problem doesn t know what they re talking about, or just isn t telling you the truth. let s take a closer look at the problem. our chief business correspondent ali velsshey. oil. increase of oil prices up $1.53 a barrel to end at $107.83. that s for the oil that we buy here in the united states. that s not a huge increase. opeq has sort of said they w

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