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the attorney general is putting together a team whose job it is to rout out any cases of fraud or manipulation in the oil markets that might affect gas price, and that is including the role of speculators. well this is a cheap press release and it will not address the issue. this is part of the times. it goes up, and it goes down. well, we can hope it goes down at least. here are the latest averages to factor into the weekend travel plans. $3.85 a gallon for regular and $4.12 for premium, and $4.12 and the key word there is average. at least a half dozen states are paying north of $4 for regular. hawaii for all of the good points has the highest average gas price in the nation. $4.53 a gallon. but i also want to show you where the gas prices are taking the biggest bite. on average, americans are now spending just under 8% of our incomes on gasoline. new yorkers are spending less than 5%, and new york is one of ....
Putting together a team whose job it is to root out any cases of fraud or manipulation in the oil markets that might affect gas prices. and that includes the role of traders and speculators. this is a cheap press release. let s be honest. this is not something that s going to address the issue. it s just part of the times. this is how it goes. it goes up, it goes down. well, we can hope it goes down. here are the latest averages to factor in your weekend travel plans. $3.85 a gallon for regular, $4.12 for premium. the key word there is average. at least a half dozen states are paying north of $4 for regular. hawaii for all its good points has the highest average gas price in the nation. $4.52 a gallon. now oil prices are high, too, but the so-called benchmark price for west texas intermeet yacht is still more than 20% below its record high of august 2008. ....
Gallon. one month ago, it was $3.12 a gallon. that s one month ago. last year, it was $2.98. how much of this is speculation and fear? is there a breakdown that way? much of it is driven by speculation, the fact that maybe something could happen in saudi arabia. that could disrupt the world s supply. we haven t seen that much of a change in supply. libya produces a small percent of the world s oil. like 2%. exactly. but it s more the fear that something could happen. we re in an economic recovery right now. americans are going back to work, they re going out to eat, they re going out to shop. that is driving up the price of oil a bit. mostly, it s the speculation that something could happen. something like this is inevitable it s going to get political. we have house speaker john boehner blaming the obama administration. ....
That lost crude oil demand. what it s going to do is most likely pick up the demand for the middle distillates. gasoline to a lesser extent. so there s the market s still going to be volatile. the new acronym is mena, m-e-n-a, middle east north africa, we ll watch that. and the timing with respect to libya which has i guess 2% of the world s oil production capacity. could it be worse? i mean, is this pretty bad? yeah. everything s pretty bad right now. the the one thing these markets don t like is instability and not knowing where the next barrel of oil is coming from. i want to look at aaa prices now. we re going to bring up a full screen. the current average for a gallon of gas is $3.55 a gallon. if you look at what we compared it to a few weeks ago, $3.12 earlier this month. last year, $2.78. wow, how those were the days, ....
Average for regular gas rose for the 21st straight day today, climbing $3.52 a gallon, up another penny from what we saw just yesterday. a month ago we were paying $3.12 on average. a year ago the nationwide average was $2.75 a gallon. right now california, they ve got the most expensive gas prices. statewide ampverage is $3.90. but prices are well over $4 in some places. the least expensivexpensive, ro mountain region. average for regular is $3.30 a gallon. joining me now, senior gas analyst for gasbuddy.com. you re one of many websites you, have an app where people are trying to find the lowest price in their area. right. people shocked and outraged at pump. this is the way they take back and save money by using smartphone apps ingenious ways to use technology to save expenses. you were talking with me in ....