the burn area got rain on it. it turned into the mud slide. more on that amazing video. incredible. thank you for delivering on the nice weather. thank you, chad. could it be another record breaking day on wall street? stocks soared. the federal reserve would keep pumping cash in. the dow topped 15,460. the s&p 500 hit 1675. both are records. last month, they indicated the fed might stop buying bonds. some warned the latest rally may be short lived. a spike in crude oil in part thanks to the situation in egypt and the peak summer driving season. they are creating a perfect storm. the price at the pump jumped 4%. industry experts expect prices to jump over the next couple
summer driving season mean gas could go up another 10 to 20 cents experts say. aaa says the average price of a gallon of regular jumped 3.2 cents in one day, $3.55 a gallon now. this marks the fourth day in a row it s been up. you want to see one direction this summer? it s going to cost you almost $700 if you can find a ticket. why? ticket limits in the secondary markets mean the hottest concerts like one direction, rolling stones, beyonce will cost several hundred bucks. what? a single ticket close to $700 for some of the hottest, hottest names out there. one direction i m going is the other way. i go to the gas station and then i can t afford any of those tickets. you guys with kids, if they nag you with love but so many parents are caving obviously. $600, $700? come on. you have to mow the lawn so many times. the child will have to save
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been rising across the nation. in california, which is the nation s largest gasoline market, the average price of gas already topping $4 a gallon. that is up from $3.86 just last week. lack of production and the peak summer driving season just two of the things. a lot goes into the mix in the gas price but that is couple other reasons we re seeing a little bit higher this morning. gregg: i paid $4.29 the other day for premium. martha: ouch. where? name names. gregg: well, transportation costs up there add to the price. martha: got to go to new jersey. gregg: i will come down to your neck of the woods and by gasoline there and say hello. martha: we have lots more for you, folks. republican lawmakers telling eric holder, we ll see you now in court. what they want and whether holder will be forced to comply this time. gregg: president obama calling paul ryan extreme but governor romney says, hey, it is the other way
the last we have seen is back in 2008. oil is much higher today. gasoline, $4.11 per gallon, national average. we haven t seen started the peak summer driving season. where is your sense on where the gas price go and driving prices? my sense is we re in another year of paranoia that we re not going to have enough fuel, there are too many international things happening. in the next few years we re going to peak and then we ll be paying less than we paid on july 4 or what we paid on easter sunday or sing owe did cinco de. you re paying more money for the same amount of gas. if these gas prices stay high, you say this could bring on the loss of hundreds of thousands of jobs in this country.