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We ares -- are facing. biden needs to own the inflation. the war on ukraine began on february 24th. biden administration officials are contradicting themselves on future inflation numbers. listen to this. >> press sect. psaki: the expectation continues to be it will moderate by the end of the year sglchlts we are likely to see another year in which 12-month inflation numbers remain uncomfortably high. >> inflation is costing average american household extra $296 a month and gas prices continue to be out of control. right now average price per gallon is $4.33, compare to a year ago, it was near...

Russian invasion into ukraine on february 24th. and oil prices dropping below $100 a barrel for the first time in weeks after spiking to $130 a barrel and this is because of the covid outbreak in china. china is the second biggest consumer of oil and because they are going into lockdown they may not need as much energy. remember, wolf, gas prices do lag oil prices and it might be a week or so before we see the lower prices, some analysts suggesting we could see a 20 cent drop. but until then we are still at a record $4.33 a gallon. and new tonight lyft joining uber in charging for fuel, surcha...

$3.54. so one year ago from where we are today, gas was at $2.85. that's a big jump to $4.33. vanessa is in new york for us. how are these prices impacting daily life here in the u.s.? >> well, these prices are rising incredibly quickly. you said it, $4.33 is the national average today, up 33 cents in the last week and up nearly 80 cents since the russian invasion into ukraine, which was just at the end of last month and this is all coming on the heels of inflation, which was already pushing these gas prices a lot higher. according to moody's analytics, american families can expect to spend $1...

Paychecks can you miss and still pay for essentials. this gives you a sense of how many people are living paycheck to paycheck. 51% of the population, the majority, say they can only skip one paycheck or less. then an ood dishl 15% that can only miss two. the other 25% can miss a jun ch of them. about two-thirds of the american pub can only miss two or fewer paychecks and still be able to pay for essentials. any crunch at the tank can hurt these families. >> when you look at that, when you jum president from $3.49 to $4.33, it's quick rapid change. out can't prepare for it. >> that's the probl...

Down to $101 is good news for consumers. it will ease concerns about an oil shock hurting the economy. causing a recession or a slowdown. yes, it should drive down gasoline prices if it lasts. and that's a big if. we've already seen gas prices stop going up. they are basically flat in the last few days. 4.33 a gallon nationally again, that's not cheap but it is a step in the right direction. if oil prices stay around here, we could see a 20 cent decline in the national average. that would be welcome. that's good news. the reason why oil prices was down is not necessarily good, that's because c...