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Gasoline, $491 billion, to be exact, under this projection from that oil pricing information service. how big is that? well, at $400 billion, even, which is what we would be spending on gasoline by the second quarter, you re bigger than all the money we spend on clothing and shoes, $350 billion, bigger than the money we spend every year on prescription drugs and medical products. you know, we started the decade of 2000, in 03, average her gallon praoeurbgs 1.46. by this year, they think we will close out the year at an average of 3.56. so we re spending more on gas and we re continuing to buy a lot of it. why is that? well, it s a slow creep. in 08 when prices hit that high of four-point # one per gallon, it was sudden and we saw it. here it s been a slower creep, prices spiked up but didn t go as high but stayed high for a longer period of time. now, we can afford this, of course, and if you re spending money on gas at least somebody somewhere is making money, oil companies, gas sta ....
The ones that are created by the private sector, note ones that government, you know, spends a lot of money trying to put someone on a construction line or build a bridge or fill a pothole, because those jobs go away once the pothole is filled, and the bridge is built and the people have to go back on the unemployment line, rather than continue. the real jobs created they re ones where they say, you know what? we need to hire more people, and help us highre more people. bill: you are saying the economy would be generating job growth at a faster rate without this. how would that be possible? there would be less money in the pipeline. the stimulus that was put aside for $700 billion, that wouldn t have saved the jobs in people in various states across the country. wouldn t they be unemployed. one of the laws of unintended consequences, gasoline prices went from the $1.83 a gallon to $3.66. $3.56. and, the reason for that is ....
Gimmick. you don t have to have all your cars getting 56 miles per gallon. it s a range. so you can have your suv s that people want to buy for all sorts of reasons, carry the gear and get to the soccer games and be safe and then you can have cars that other people choose to buy that are much higher mileage. so it s actually pretty much a gimmick. so long as you ve got an average of all the vehicles you produce, creating 56 miles per gallon, as long as the average for your entire fleet, you can go out there and have consumers buy whatever they want. i mean, they can go all for gas guzzlers so long as your fleet has enough smaller compact cars that get good gas mileage in that fleet corporate average, you re ok as a car maker. you know, the gas has dropped since they tapped the oil reserves. what was it, $3.56 a gallon now. isn t that good news? isn t that good news on those people want a vacation this summer. yes, it is. better anyway. it s better but the downturn ....
3 to 5 inches of rain. certainly not out of the question and all the way down to louisville and more possible by the mid-part of the week. al next. okay, alex wallace, thanks for the head s up on this. this easter sunday nothing sweet about the prices people are chelg out at the pump. national average 25 cents off the all-time high. ron allen is here with more and excuse the grumbles as we toss it over to you. well, we haven t even hit the summer driving season for another month or so and more grim news. numbers that won t make you happy. take a look at all of this. overnight, as a matter of fact, the average price went up half a penny. it s now at 3.86 a gallon. a month ago it was about 3.56 a gallon, and a year ago,bury seems like a real long time ago, it was 2.85 a gallon. across the country there are at least six states and the district of columbia where you ll pay more than $4 a gallon, and the highest gas prices are in hawaii and the ....
Half a penny to $3.80 which is up more than 8% from last month when the price was $3.56. checking out this time last year, a gallon cost just $2.85. the cost is certainly weighing on drivers with prices topping $4 across six states. they have just been going up, and it s been crazy. shop around a lot to find the best prices. it it goes to above $5 a gallon, i m definitely changing to something like a mini or some type of car like this. reporter: meanwhile, analysts are saying prices still have a higher ways to go, and here to discuss why the fuel prices are soaring, chief business correspondent for u.s. news & world report rick newman. rick, good morning. hi, alex. i think unless we re talking about. i mean, look at the high gas prices. you ve got to have people wondering is this all fair? is this all on the up and up, and we have the justice department in fact looking at a task force to figure this out and see what s behind all the this. i don t think this is ....