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Social media erupting in reaction to this claim that the president played about the price of gas in california. it seven bucks a gallon almost. todd: republican gubernatorial candidate lee zeldin tweeting false. gas in california was less than half what it is today. the data does not lie, average gas just below $6 in jan january 2021, $3.18. better bundle up this winter because your energy bill about the cost a few hundred bucks more than last year. beatty that s coming directly from the white house. we are going to show you the numbers coming up next. ....
In our money lead, there is some hope at the pump. gas prices dropping for the 63rd day in a row today. the average price for a gallon of gas is now $3.95. that s 8 cents cheaper than week ago, but are these prices on track to continue to plunge lower? cnn s matt egan joins us. we re at $3.95 a gallon. how low could we see prices fall. could they fall as low as it was a year ago, $3.18 a gallon? the message from the market is this plunge in gas prices is not nearly done. just this afternoon, u.s. oil prices fell another 3%, closing at around $86.50 a barrel. that is the lowest level in nearly seven months. for some context, during the scary days of early march, when russia s invasion of ukraine was ....
Incredibly high, one of the highest they have been in about two and a half years. so we are seeing a lot of factors of both our diplomatic engagement overseas, as well as our domestic efforts. john: first of all, i will challenge you on this idea that gasoline prices were not going up before putin invaded ukraine because i think the timeline will show that in fact they were going up. when the president took office, it was 2.39. a year ago, 3.18. that would be a rise. but let me ask you this request he because you mentioned saudi arabia. saudi arabia has announced 100,000 barrels more a day coming up here in the month of august after the president s trip, which is just a drop in the bucket as ed lawrence was pointing out. does this speak to the need for this president to engage in policies that increase domestic production to help bring down prices? well, first just a minor ....
holy mackerel. i couldn t know it. it was crazy. reporter: texas has some of the cheapest prices in the country, an average of $3.18 a gallon. but that s no relief to edward martinez, who drives more than 100 miles a day hauling construction debris. how often are you having to fill up? shoot, maybe once once or twice a day. reporter: how much is it to fill your tank up? well over $100. it looks like we re in for higher oil and gas prices for the long haul. reporter: ed herz, is an energy fellow at the university of houston, and says despite the president releasing 50 billion barrels of oil from the strategic reserve to helpron the market in the global market. he says if oil-rich russia invades ukraine american consumers will feel the ripple effect at the pump. expect to see the price go up by 50 cents to 75 cents a gallon if russia goes ahead with an invasion of ukraine. ....