104 27 News Today

Upward pressure on prices. >> whats he waiting for on the gas tax? >> part of the challenge with the gas tax is that it funds the roads. we just did a big infrastructure bill to fund the roads. if we remove the gas tax that takes away the funding just passed by congress to be able to do that. thats one of the challenges, but im not saying thats off the table. that is, as prices continue to rise, its certainly something the administration is considering, just like i know governors across the coun...

Charges. its unclear when are the justice department will pursue that. >> zach cohen, thanks for joining us, terrific reporting by you and our colleagues. >> zach, thank you. so, i know that you are very aware of how painful it is to buy just about anything these days, here in the u.s. everything feels like its gone up. that is particularly painful for you if youre trying to buy a home, right? mortgage rates stayed low during the pandemic. recent action by the federal reserve to control inflat...

National average reached an all-time high of $4.17 according to aaa. vanessa yurkevich with another perspective on this, live with more on the new jersey turnpike. vanessa, what are you hearing there about what weve been discussing here so far? the real impact of this new ban, the real impact of high gas prices already. >> reporter: americans woke up this morning, kate, to record high gas prices. we saw a 10 cent jump overnight up to $4.17 a gallon, right behind me, 10 cents more, $4.27 a gallon...

Seen taken against civilians in kharkiv. the area where he was one of the senior commanders. anderson. >> appreciate it. victor, the war goes on. looks like it may be a busy night here. >> all right. thank you. president biden, today, announced his administrations latest tactic to make putin pay for invading ukraine. ban on energy imports to the u.s. from russia. >> americans are seeing record prices already at the pump. crude oil from russia makes up only about 3% of the u.s. supply. cnn is a...

The other thing is the rise in gas prices. the u.s. is certainly very nervous about that. >> all right, mj, thank you very much. the ban on russian oil comes as u.s. gas prices hit a record high. cnn business and politics correspondent vanessa is working this part of the story for us. vanessa, are the drivers youve spent on to prepared for the prices to get a whole lot worse? >> reporter: well, some analysts are suggesting that we could see $5 gallon gas in the next month or so. but $4.17. that ...

From a week ago, regular is 3.36 a gallon and depending where you live you can expect to pay a great deal more as you mentioned according to local media reports gas station in isolated highway in california was charging 7.59 a gallon for regular and almost 8 and a half dollars for premium. triple a says california leads the nation with the highest prices for gas averaging 4.54 followed by hawaii at 4.27, also on the top 5 list nevada, washington and oregon. speaking earlier this week at a town h...

Almost 8 1/2 for premium. california leads the nation with the highest prices for gas averaging $4.54, followed by hawaii at 4.27. also on the top five list, nevada, washington, and oregon, and energy analyst blames the spike in prices on several factors. >> gasoline prices are being impacted by the economy. the people are driving like its summer and fall, and so the demand is very strong. but at the same time, supplies have been restrictive. u.s. oil production is a far cry from what it was bef...

California leads the nation for the highest prices averaging $4.54 followed by hawaii at $4.27. also on the top five, nevada, washington and oregon. speaking earlier this week at a town hall-style meeting, president biden said theres no quick fix for escalating gasoline prices. >> but i dont -- i must tell you, i dont have a near term answer. theres two things i can do. i can go in the petroleum reserve and take out and probably reduce the price of gas maybe 18 cents or so a gallon. its still go...

Its still going to be above $3. >> reporter: according to data compiled by aaa, gasoline in all 50 states is now over $3 a gallon. california has the high prices averaging $4.534 followed by hawaii at $4.27. some people pay even more, a gas station in a remote part of the california coast is charging $7.59 and nearly $1 more for a gallon of premium. some industry analysts say the u.s. must do more to increase domestic oil production. >> i think the best way to reverse this is to have president b...

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