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All-time high of $4.61 a gallon. that is up an astounding 12 cents since just yesterday, and 47 cents in the past week alone. nbc's diana alfier joins us live from burbank, california. thank you for being here. why has this price shot up so quickly? >> reporter: milissa, that is indeed the question on everyone's minds around here. check out what the price is at this station in burbank, $4.69 per gallon for regular. now, experts tell me the reason for all of this happens to be a perfect storm of events. right now stations are changing over from their summer blend to their winter blend, which me...

Subsidies to the wind and solar industry. so let's get rid of them all, bill. let's create a level playing field. bill: right pocket, left pocket. stephen moore, thank you. three point nine three a gallon across the country. >> i was just in chicago, it was 4.69 a gallon. we're getting close to $5 in a lot of cities. bill: you can tick off a lot of consumers that way. thanks stephen. martha: there's new fallout today in the investigation of a shooting death of an unarmed florida teenager, 17-year-old trayvon martin killed by neighborhood watch volunteer george zimmerman who has claimed self-de...

Gallagher from a chevron station in l.a.. >> reporter: pretty amazing, m.k.. in california can gas prices are typically higher, we have higher real estate taxes and higher gas price taxes here. i want to point out a couple things. this is in santa monica, so it's a busy area, but take a look at this. regular gallon of unleaded gas at $4.49. plus at 4.69, supreme all the way up to 4.79. across the country sticker shock is setting in, and we are on pace, megyn, to shatter records. take a look at the number bees. back in 2008 on this very day we were selling gas on the national average at $3.13 a...

It was $75.50. i understand this is happening. the ripple effect throughout all industries going to be something that really people have never faced before. i want to point out, we are entering into a very tough economic time. it is called stagflation. it is very high unemployment, runaway inflation and very low economic activity. the policies that we have in place by the government right now are completely the wrong policies for that type of economic condition. what we're seeing is going to continue as long as they continue to print money we are going to see gasoline prices go higher and ever...

Two years ago today, we were talking about warren buffett who said the economy had fallen off a cliff. here's is a little remembrance. this is as bad as he thought it could possibly be and exactly his worst case scenario playing out. patience and confidence are what is lacking here. we were talking about what brings it back. stimulus, bailouts. it has been a horrific two years, and two years in which apple computer shares up 328%. bank of america, those shares from $3.75 bank of america you can see on there to $14.69 a share. no that is up almost 300%. ruby tuesday then the stock fell to 99 ce...