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The largest single day drop since 2008 and the financial crisis. so it's big, but gerri willis is here from the fox business network. the idea is this is a reset? >> well, look, 2.52%. if i called you up on the phone and said oh, a big move in the dow, you said calm down. >> shepard: i have a show to watch. >> yeah. it's important and we're watching this. 657 is nothing to laugh it. but what is going on. there's a big fundamental change in what is going on in the markets. it's not in the stock markets. it's in the bond markets. people demand from the federal government in terms of interest to ...

The product can't get to market. you are seeing a distribution issue. because of having the supply distribution issue, we are seeing prices move higher. the average price of a gallon of gas is up 17 cents since harvey hit. we are seeing higher prices in north carolina up 29 cents in a week. in georgia, same thing, up 29 cents a week. here is the thing. the refineries may take up to weeks to come back online. you may see the higher prices stick around. the national average could jump from $2.52 to $2.75 in a matter of days. don't be surprised if you see that. john? >> thank you so much for that...

>> harvey is a reminder of why it is important to have smaller data and smaller deficits to better handle emergencies like this. molly, leland, back to you. >> molly: we appreciate it. >> leland: as americans hit the road for the holiday weekend, everyone will see the effects of harvey as they fill up their tanks. at least two major oil pipelines have been slowed or stopped because of flooding and damage from harvey. a number of the refineries on the gulf coast are off-line. the current national price for a gallon of gas is $2.52. that's up $0.17 from the average about a week ago. an oil freig...

Didn't do anything wrong and i have clearly done something wrong that can lead to misunderstandings, indictments. he's got to worry about that, even if he didn't do something wrong. >> just to make sure we don't sell anybody's names here, there have been confirmations, no allegations that have been proved against michael flynn. >> or paul manafort or don, jr. >> there may not be. we're talking about leaks and ideas. >> i do remember over and over them saying no progress in russia, never, not even thinking about it. >> which tower? there was one that was build in new york and not in russia. >> ...

Catching them off guard. all these people getting gas, there wasn't a moment to replenish the fly. rereality is three's plenty of supply. the just sitting at the refineries and it can't get out because the refiners are shut down. this is also causing a price spike. not just here in texas, where we saw a .17 cent ricse. now sitting at $2.52. that's the average. you're seeing some states like north carolina up $ .27 a week. and here's the thing. this may continue a lot longer than we first expected because thee remine fineries may take a wile to get back on line. one said we could see national a...