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Unusual. we ll continue to keep an eye on that. we ve also been watching not just stocks, but commodities. copper is sitting near a new record high. oil prices are continuing to sit near those high levels that we ve seen recently. right now, above $91 a barrel. the consumers are starting to feel the pinch. the government says gasoline prices are now at $3.07 a gallon. guys, we ll continue to watch for some of the economic news come coming in including auto sales today. thanks very much. president obama heads back home to washington and the welcoming party, some really em bolden republicans. we ll look at how the president is likely to handle this new congress. and was ill illness, ....
Alternative energy. te tell me what the future of energy will mean for us. i think it will grow for a number of reasons. but it s really what we want the future of our energy sources to be. the fossil fuel that we use today is finite and although we ll have decades of transition period, one wants to look to a future where alternative energies are going to be a major part of our energy supply. that transition may be decades long, but it will be sped up or slowed down by the price of oil. prices on the rise again. a gallon now $3.07. i paid a lot more for this morning in atlanta. what s your sense of oil prices and where they re likely to go? ....
But if the companies, including food companies, and the gas companies, can pass long the higher costs which they have shown to be able to, if they are able to do that, they are going to continue to profit. we have seen the big oil companies in the past year, the first three quarters of the year, they saw report profits. so if they pass down the higher commodity prices, that is going to be a boone for the markets. guest: that is where the problem will lie. you have to pass those down and when you think of the miners they will have to pass down their raw material costs on. and whoever refines that product will pass that on. neil: but hasn t this been going on for a while? guest: we are talking on average $3.07, and when we talk $4, and the former president of shell oil says we will have $5 a gallon gasoline by 12 twelve, that is a huge difference. neil: are you surprise we are doing okay if that environment? guest: not now from a stock ....
Jon: you have looked at the sign at your gas station lately? the new year is bringing a surge in oil and gasoline prices. a barrel of oil, headed for a price spike, possibly up to 100 bucks a barrel, and the average price for a gallon of gas? it climbed to 3.07. just one year ago, the price was 2.66. but this pain is going to spread beyond the pump to just about everything you buy. sandra smith of the fox business network is live with us in the new york newsroom and this is going to ripple out throughout the economy, isn t it? we re already seeing that happen. while the national average is 3.07, in your town or city you might already see gas prices at the pump exceeding 3.50 a gallon. so what happens is there s an immediate trickle down effect, whether you re a shipper, a lot of people over the holidays buy ....
shannon: we can all soon be feeling more pain at the pump. experts say the price of oil is poised to hit $100 a barrel and that could push prices to $4 a gallon in some of the country. right now average price is $3.07 for gallon of gasoline. new year has an opportunity to get spending on track. brenda buttner has tips to help you stick to your budget. hi, brenda. [ no audible response ] a lot of people will be joining a gym in the new year, hoping to start off on the right foot. but it s also a great time to review your budget and get your finances in shape. either we contain spending so we don t get a sticker shock when the bills come in. get smarter with your smart phone. take advantage of having all ....