this point, pegin, i got to tell you, i ve been watching these prices for years, i don t think it s going to. we re getting close to spring and the gasoline blends, the price changes, prices go up. i think we re going to have to get used to. megyn: the summer blends. you make it sound like a latte at starbucks! cheryl, thank you. you bet. megyn: by the way, i was at starbucks the other way, now they have the flavor of blond. i was like that s sweet, they made one for us! no, it s a lighter blend. we are tracking a developing story overseas, as israel accuses iran of being behind an attempt of trying to kill two israeli ambassador necessary separate attacks. are the two nations one step closer to war? we are live in jerusalem. and, the administration now pressuring fannie mae and freddie mac to write down the loan amounts on some underwater home mortgages. the question, as always, who gets the break? who doesn t? and will the taxpayers have to pick up the dime for those who do?
are boycotting exports to europe. why do we care about that in the united states? because there will be less oil supply around the world. one of my favorites analysts in chicago was telling me if things subside with iran, tensions die down a bit you could see gasoline prices go down 25-50 cents pretty quickly. by that would be short term. we have a couple refineries offline and a refinery in the virgin islands that s closing. that s cold 0 comfort for consumers paying 35 cents more per gallon. we are probably most likely at $4. i have seen some calls for $5, i don t think that will happen. you will see a jump in march because we switch over to summer blends. the type of gasoline we drive with changes.
themselves. absolutely amazing. i remember when oil was down at $40 a few years ago, they didn t say anything that the oil companies were manipulating the prices down. i wish they would get their act in gear. cheryl: jonathan, this is about the refiners at the end of the day. don t they have to switch over to summer blends? we ve had all this weather. doesn t this contribute to what we re seeing right now? it s about blaming producers. this is a salem witch hunt for people who actually work for a living and oh, i don t know, pay their taxes, unlike some elected officials on capitol hill. the democrats always trot out big oil. it s completely without merit. prices are based on supply and demand, and this is the populous, unsolicited scapegoating of people who actually produce for our economy, unlike all the green energy that the democrats want to spend your tax dollars on. cheryl: wayne, here is what harry reid said in this letter. he said to the ftc, he thinks refiners are cuttin
delighted because it was long overdue, a lot of the price volatility and increase that s out there right now is being driven by forces that are outside of the business, and, you know, here in connecticut where, again, my town it s $4.25 a gallon, people who are in the business of delivering oil, the guys who are at the gas station, have been screaming for months that the market forces, supply and demand, do not justify the prices that are showing up again on these energy trading markets. so what the dodd/frank bill did was give the commodities trading commission the authority to limb the amount of positions or buys that these groups who are on wall street who add nothing of value to the production of oil or delivery of oil from occupying positions. congressman, some say that it may not be all speculation. gop saying prices are driven up by epa regulations, for instance. the hundreds of summer blends, for instance.
environmental groups. listen here. i m concerned about another bp disaster. i m also concerned that these ongoing disasters, the thousands we have every year will just keep on happening and it will be business as usual around here. in fact, there was a spill in the gulf of mexico just last month, shepard. it impacted grand isle about a mile or so where the shoreline there, the same area that was impacted, you guessed it, by the bp oil spill as well, shep. shepard: kris gutierrez live houma, louisiana. thanks. oil prices were you present again today to settle above $111 in trading. wow. investors blame a weakened dollar. typically the two trade in opposite directions. so far prices at the pump appear to be holding steadily at least lately. according to triple a the national average for a gallon of unledside $3.84 the same as yesterday. americans are cutting way back on driving which, in theory, should cut demand to lower prices but they point out it s happening as refineries switc