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The wrong direction, pete. >> reporter: and they're rising so fast, bianna. you know, earlier here in this neighborhood it was $4.09 for a gallon of regular. now $4.37. that's higher than the national average for a gallon of regular according to aaa. now $4.37. the last time we saw a number this high, this actually surpassed even completely beat out the previous record, was $4.33 back on march 11th, highest number we saw since july of 2008, but this is going up so fast, just a week ago it was $4.20. back a year ago, $2.97, kind of hard to think about when you consider the numbers today. this i...

And it's not just americans feeling the financial pain. morgan stanley put it this way. we live in the most chaotic, hard to predict macroeconomic times in decades. the ingredients for a global recession are on the table. >> joining us now is cnn business editor-at-large, richard quest. richard, great to see you. do you agree that this is the hardest to predict economy in decades? >> absolutely. without any question of doubt. because the underlying economics are so horrible. gas prices in the u.s. at the moment average $4.33, so you've got a vast range, $4.37, previous record, week ago, year a...

Court. will end abortion ban forced democrats to take more dramatic action? i put this to a member of the pro-choice caucus, congresswoman deborah -- next. americans are already feeling pain at the pump. it could get worse. gas prices could beat the national average of serious today. one of the areas seeing the biggest spikes in prices, with jesse -- how close are we to breaking that record? >> we are right on the cusp. the national average, if you run up to about 432 according to aaa, for a gallon of regular. the national record is $4.33, not adjusted for inflation with what we are seeing so ...

New today, a little relief for american drivers. the national average for a gallon of regular gas fell to $4.11. that number last month stood at $4.33 a gallon. oil industry leaders defended those prices last week. the big oil execs insisted it wasn't their fault. >> we do not set or influence the price of our products. >> no single company sets the price. the market establishes the price. >> shell does not set or control the price of crude oil or the price that consumers pay. >> joining me now, texas congressman marc veasey,

In the united states. when it comes to the issue of foreign policy, the united states is still funding russia and importing more oil. president biden said right before a climate change summit in october of just last year, four months ago that russia needed to pump more oil. when it comes to the question of domestic energy production here at home where the average price of gas in california, the average price $4.33 today. americans are looking at this and saying this effects me and the domestic policies of the biden administration are not reflecting well in terms of being able to handle a crisi...