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Gas prices are rapidly approaching the highest level in years. >> aaa says the national average for regular unleaded hit $3.41 a gallon. what's happening? >> reporter: the story is still the same, supply, just cannot keep up with demand. as you mentioned the national average up to $3.41 a gallon, up 6 cents in a week, up nearly $1 from a year ago. it's just a penny shy of the seven-year high that was set last fall. so what's going on? remember last fall president biden just before thanksgiving came out and announced the largest of release of barrels of oil from the strategic petroleum reserve ...

Are talk about $4. >> that's right. we're closing out the year and gas prices are inching up. that will be a segue for 2022. the yearly national average this year was $3.02 a gallon. next year it's going to be higher, nearly 40 cents. we forecast the average at $3.41 with the potential that the national average could reach $4 a gallon. for those in california, they could see $5, even into the mid $5 range. >> jackie: what kind of timeline are we looking at here? we had this conversation yesterday about gas prices and how it's impacting the average consumer. there could be more pain ahead. we h...

Cnn got an exclusive look at gasbuddy's prediction for a sharp rise in gas next year. their predictions saying the national average per gallon would rise to $3.41. how concerned are you about rising fuel prices? >> well, the thing about gas prices is they could rise but they could also fall. a different forecaster, the energy energy administration says gas prices are going to fall slightly over the next year. that leaves your viewers -- some people say it's going to rise and some people say it's going to fall so let me give you a little economic secret. you should never listen to any individua...

Prices to rise next year. they see a 2022 average of $3.41 a gallon, up from around $3 this year. they think gas prices are going to peak in may at $3.79 a gallon, essentially right as everyone is heading out for the summer, memorial day weekend, we could be seeing gas prices flirting with $4 a gallon before they fall sharply later in the year. now, this would unwind some of the recent progress we've seen on the gas front. the national average is currently $3.28 a gallon. that's not cheap. it's up by about a dollar from a year ago. but it is down 14 cents from the peak we saw in early november...

Will not see a penny in taxes raised, you will see your standard of living go up and your cost down. >> that angry pirate is your president. i am emily compagno. here today my cohost, kayleigh mcenany, host of kennedy on fox business kennedy. fox news correspondent, julie turner, and in the sunny seed, julie banderas. the supply crisis leaving store shelves empty. it's not just about what is available, it is the price too. the cost of turkey per pound is up 6.2% from last year. bone-in ribeye steak is nearly 30% more expensive, and veal is up 83.6%. thanksgiving will cost more, the national av...