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So while drivers may like this, is the economy taking a hit? joining us from our sister network, fox business networks stuart varney. do you think is is good or bad. >> when gas tumble is it good or bad? im on the side it is wonderful. it is flat-out plus for every singleets behind the wheel of a car or truck. you are putting money in your pocket. the average will go down some more because the price of oil keeps falling. were at $58 a barrel today and falling. the price of gas is going to go bel...

Then we saw oil prices and gas prices as a result continue to drop. there are some that would say we could see u.s. oil prices drop to $50 a gallon. that would be a considerable drop. keep in mind every $10 price drop in oil, we will see a 25 cent drop at the gas pump. >> how long does it take? >> it can take -- you see the oil price drop like a gut. it takes a week or so a bit of time, to really catch up. but we will start to see, as we continue to see oil prices fall and we are at multiyear lo...

The dow said good-bye. energy stocks led the decline. oil prices fell 4% to a five-year low. >> the dow has gone to bed and so must i. >> crude oil has gone to bed. down more than 40% from the summer. if oil keeps falling, so will gas. the national average is $2.66. likely to fall below $2.50 in coming weeks. president obama taking over the colbert report. talking health care, the economy and immigration. did he hold his own? brian stelter breaks it all down for us next. [ man ] i remember whe...

Is at an all-time high. >> we are producing an extra four million barrels of oil a day in the united states. an extra four million barrels a day, just in the last three-and-a-half years. that is explosion of oil on to the world market which has depressed the price. by the way, bill, weve got another drop in the price of oil today. were down to $64 a barrel. it was 107 three or four months ago. now it is 64. bill: is that because of our production or is demand is dropping off? >> demand around th...

For millions and millions of us and a big boost for the economy. gerri willis is here. its below five bucks a gallon in new york city. whats -- >> sounds terrible but the reality is its only -- >> a big deal for consumers. >> $75 billion. thats the money thats gone into consumers in pocketbooks. we figure that out, per household, thats like $641. you think about it. those price cuts started coming about june of this year so thats about $100 a month. >> i read in the "wall street journal" the pre...

Nasdaq gained 3.5%. december is the second best month for stocks historically. today is not off for a great start. freefalling oil prices. right now, crude oil is $64 a barrel. do you see that chart? that is the lowest in five years. oil prices down 40% from the summer peak. quickly, 40% right off the price for a barrel of crude. production is boom in the u.s. last week, opec countries decided not to trim output. that means over supply and driving prices down. global demand is weakening. the ave...

According toaaa the average is $2.77, 50 cents lower than this time last year. the big question, will it all last? some say yes forecasting prices could go as low as $2.50 per gallon. wow. still to come in the newsroom. he played football, on the wrestling team at ohio state university. now hes dead. his body was found in a dumpster. it appears to have been suicide. the big question, were concussions to blame? well talk about that next. how much money do you have in your pocket right now? i ha...

Gallon. gas is expected to stay cheap through next year. some predicting prices as low as 2.$2.50 a gallon. are you ready for cyber shopping? sales expected to reach $2.6 billion. 127 million americans joining in. that is down from last year. more americans will not shop online than will. also, cyber monday is not really a one-day event. this stretched into week long deals. giving you opportunities to spend money, you know, pretty much morning, noon or night in store or online. some coveted deal...

Passengere passengers to the tsa. in most cases, theyre more than doubling from $2.50 to $5.60 a flight. and some connecting flights are getting charged twice. those are some of your top stories on this tuesday, july 22nd. >> announcer: from abc news, this is "world news now." never ends in the middle east. it always, at this hour, more updates. were going to kick it off this half hour with the fierce attacks driving up the death toll over there. >> the israeli military continue to take aim at...

The people most responsible for all of that are now reaching even deeper into your wallet. heres abcs josh haskell. >> reporter: if you thought paying for meals, checked bags and wi-fi on flights was bad, prepare yourself for higher tsa fees. more difficult to avoid, doubling or tripling in some cases. >> airfares are high enough as it is. and to add on even more additional taxes and airport fees and fees and public fees, i think it is ridiculous. >> reporter: mandated by congress, the tsa is ra...