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For our factories and cars, and if the european market is not getting the oil it needs, that means it is competing with the oil we get from algeria for the light sweet crude. every drop that comes out of the ground, it s accounted for. libya is the largest proven reserves in africa. it s what they re not producing yet, too. in other words, we re stuck with it, and deal with it. it could go up to $5 a gallon? maybe $4. if the economy weakens because of what oil prices are doing, that means demand for oil and gas starts to go down. we were at $3.37, 17 or 18 cents in a couple of days. right in the middle, that s where oil hit $100. there s a lot of apps and things you can look at, go to aaa.com to drive better. jerks don t get good gas ....
High. this is where we have been in 30 days, up 8% for oil prices. the st. louis fed president came out today saying right now the high oil pritss aren t a big drag on the economy but if these prices stay high for a sustained period, then it could become a big spending issue and could hurt the overall economic recove recovery. thank you. just how high is the price of gas going to go? the national average for a gallon of regular is up for the sixth consecutive day. $3.37. after hawaii, california is getting hit the hardest with $3.76 a gallon. the whole country right now is over the $3 mark. so where is the cheapest gas in your neighborhood? that s the question? there s a couple of good websites to help you find out. check out gasbuddy.com, fuelmeup.com, and automotive.com before your next fill-up. it s now your chance to choose the news. ....
Expect a lot of double takes at the gas pump today. the national average has spiked to $3.37 a gallon for regular and, yes, that is quite a bit higher than we were paying to start the work week last week. like say 20 cents more a gallon. and if you think that hurts, check out this math. every penny increase at the pump takes $4 million per penny per day from the american consumer. so a ten cent increase is $40 million a day as long as that ten cent increase is in place. the 30 cent increase that i expect we will see between next week and this week, there you re talking about $120 million each and every day that it remains in place out of american consumers pockets. why so high so fast? well, analyst peter beutel says we kind of got a perfect petroleum storm going on, ....
You re feeling the unrest in libya every time you fill up your gas tank. aaa says the national average is $3.37 and that may go up. christine romans is here. we don t get much oil from libya. saudi arabia says, oh, we ll sell more oil and yet our gas prices here in the united states are going up. that old feeling is back, they re just trying to gouge us. it s a reaction to oil prices going up to $100 a gallon. libya is not our big supplier of oil. 2%. it supplies oil to the european markets. it s the light sweet crude. it can be more quickly and easley refined into kerosene and diesel and gasoline that we use ....
Sanctions. also, in an attempt to peel away people who are around gadhafi right now and that seems to be a big part of the strategy, they re saying refer gadhafi to the international criminal court and anyone around him participating in these human rights abuses and the crackdown is liable to go there, too. so that s really is the message, carol. they re telling neighbors countries to stop sending or allowing mercenaries to go in there and fight on the side of gadhafi. i don t know you ll be listening to hillary clinton s speech and monitoring it for us. you re feeling the unrest in libya every time you fill up your tank. the national average is $3.37 per gallon and that could go up. cnn s christine romans is back with me. we don t get much oil from libya, so there s this sense among many americans that the oil companies are using this as ....