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Tasty bacon cheeseburger. politico crunching numbers. it ll cost you $3.89 now. that s up from $3.57 this time last year. and that could climb even higher. peter is an economist at the university of maryland. always good to see you. we look at these higher prices. is this because of the record drought we have been seeing in many parts of the west right now? or more consumer demand? well, it s a bit of both. but the drought s been very important. and it s something that because of climate change, we cannot expect to go away. ranching in the southwest where they graze on grass which is free is becoming more and more difficult. and i think we can expect rising meat prices for awhile. also demand in china is growing. they re eating more meat. even if they don t import it, they do import some meat from the united states, they re demanding more on grains. pushing up global prices. do you expect this climb to ....
Struggle. simple. they just get a staff member to go online and buy a plane ticket, and go home. that s right. our next question is from nikita. why won t republicans come on your show? because it s not going to help them get reelected. and that s all they care about. stick around. rapid response panel is next. i m hampton pearson with your market wrap. stocks managed slight gains. dow rises ten, s&p adds six, nasdaq up 33. after the closing bell, alcoa kicked off the start of earnings season with its first quarter report. profits were better than expected, but revenue was light. and drivers hoping for a break during the summer travel season may be disappointed. the energy department expects gas prices to fall just a penny to $3.57 a gallon. however, it is the lowest since 2010. that s it from cnbc, first in business worldwide. [ male announcer ] this is joe woods first day of work. ....
Record for independence day, right behind $3.57 a gallon on 2011. and a long way from sticker shock in 2008. gas prices of more than $4. be prepared to dish out more on holiday road trip if you are driving in west coast states like california and washington. the cheapest spots? southern state like florida and georgia. they have the lowest prices in the country. still, some would rather stay at home than fill up. driving anywhere for the fourth? yeah, going to drive my significant other crazy. that s about as far as i can afford to get with these prices. he might not be the only one doing that this weekend. we look at these prices, oh, 3. 34. a bargain. remember, $1.50 and we thought we would never go over $2. i remember, just once, just once, paying 99 cents a gallon. ....
Celebrate. whether you drive a gas guzzler or not it s a good bet you re paying extra attention to prices at the pump if you plan on hitting the road this fourth of july. never really know what s going to happen, goes up and down all the time. reporter: good news, right now they re going down. the national average for a gallon of gas is just below $3.50 a gallon. it s often a myth that gas prices rise heading into a major holiday. turns out that s really not the case. this year gas prices have dropped for 20 days in a row. reporter: the reason? gas supply is up while consumer demand is down. one the economy is weak, two, people are driving more fuel-efficient cars and three people aren t driving as much as they used to. reporter: aaa says this year s prices are the third highest on record for independence day, right behind $3.57 a gallon in 2011 and a long way from the sticker shock we experienced in 2008, gas ....
Have dropped for 20 days in a row. consumer demand is down. one, the economy remains quite weak. two, people are driving more fuel-efficient cars and, three, people aren t driving as much as they used to. reporter: still aaa says this year s prices are the third highest on record for independence day, right behind $3.57 a gallon in 2011 and a long way from the sticker shock we experienced in 2008. gas prices of more than $4. be prepared to dish out more on your holiday road trip if you re driving in west coast states like california and washington. the cheapest spots, southern spots like alabama and south carolina. still, some would rather stay at home than fill up. are you driving anywhere for the fourth? yeah, i m going to drive my significant, that s as far as i can afford to get with these prices. and drivers in these eight states, connecticut, california, ....