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Average gas prices for the year up a little bit last year. this year, like right now, i think we are at 3.66, aaa number, i think you can add another 20 cents on top of that because of the unrest in iraq. the unrest in iraq? i was gonna ask, going into the summer driving season, vacations, et cetera, we always see gas prices rise. but you re saying on top of that? iraq is going to be on top of that long-term, iraq is going to be a challenge. looking for iraq to start producing more over the next few years and that s built into everyone s expectations about energy. if you have iraq defending the 3.3 million barrels a day it is putting out now that is going to be a longer term story for gasoline. we won t see it dip down after the summer? i don t think we will see it dip down, most of the people i m talking to don t think you will hit $4 a gallon, hurricane season comes up at the end of the winter, i never like to make predictions what is going to happen. what is interesting, c ....
The payroll tax cut has expired. it turns out the tax increase wiped out an entire year s worth of wage gains. fox business network diane macedo is here to breakdown the numbers. a real bummer, diane. it will be for many. good news most americans got pay raises in 2012. average weekly earnings rose 2.4 percent over the course of the year. the bad news is now that the fiscal cliff deal let the payroll tax cut expire we can kiss the gains good-bye. that s accordling to a new report which shows in only a month the average american worker will lose all of the 2012 gain in weekly earnings. inflation and weekly earnings are down 1.4 percent compared to this time last year. with shrinking paychecks and less take home pay americans are expected to spend a lot less which could seriously hurt the already struggling u.s. economy. a study from the federal reserve bank in new york show them ....