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meantime, national gas average price surging for the 15th straight day to 3.80 a gallon, charles payne is here. the e.v. push, they are pushing something their own energy administration is publicly, go to the administration's website, is publicly forecasting. we can only get to 10% of the american car market to e.v. by the year 2015. but here they are acting like we are going to all e.v.s in the next 10, 20 years. let me just tell you what the market is saying. market is saying people don't want the vehicles. maybe they want them in some cases but cannot afford them. some of the headlines in the last week or two. ford says that their autos are piling up on the lot, e.v., they can't sell them. they expect to bleed 4.5 billion on electric cars this year, ok. another headline, the "washington post," ford delaying production goals of e.v. saying less than expected demand for
political polarization, and growing debt. >> and given the kind of deterioration and governance and unwillingness to really tackle these issues, we don't think that they deserve a aaa anymore. >> reporter: the white house quickly pushed back on the downgrade. >> what they're doing is punishing the cleanup crew when the guy who wrecked the room is long gone, and sorry, but that just doesn't hold water. >> reporter: the ceo of jpmorgan chase on cnbc reassuring investors the u.s. economy is very robust. >> this is the most prosperous nation on the planet. it's still the most prosperous nation on the planet. >> so, tom, clearly there's some good economic news, but a lot at home are still dealing with you could call everyday inflation. >> reporter: yeah, especially at the gas pump. the national average for gas is now $3.80 gallon, up 27 cents in a month, and they blame russian and opec cuts, and extreme heat slowing refinery operations in the u.s. and, meanwhile, higher interest rates are making it more expensive to buy a
but people are still spending on experiences. look at the blockbuster movie sales for barbie and all those soldout taylor swift condition certificates. but one thing we need to keep an eye on is the price of gas. it is unexpectedly soaring recently. the national average is now at $3.71 a gallon. up another 2 cents overnight. this is the highest level in eight nths, up 13 cents in just the past week. and if you look at theap, we have 13 statesveraging $3.80 or above, including pennsylvania, illinois, colorado, and california. the crazy thing here is why this is happening. part of it is the fact that oil prices have gone up. opec holds back supply. but it's also these extremely hot temperatures. triple-digit heat is messing with refineries, causing them to limit their supply of gasoline, jet fuel and diesel right when
that's like a tax cut. that's bigger than a tax cut. >> president biden's partial term has recorded the highest cost in recent presidencies. >> presidents know that their popularity ratings can go up and down with gasoline prices. and they have done some major things to try to cool off prices befores election. >> bret: most recently president biden faced criticism for releasing oil from the strategic reserve ahead of the 2022 election season. prices did fall from more than $5 for the monthly average in june to around 3.80 in november. >> we have a crisis. a price at the pump. >> democrats argue the release was necessary as the world recovered from the global pandemic and as oil supply was limited due to the war in ukraine. but some energy experts say the release from the reserve was, in fact, strategic. >> they are meant for short-term supply disruptions. to address short-term price
eggs off the bat, that is down over 8% compared to last year. then you take a look at milk. that's down 10%. bacon a favorite of yours. that is down 4% in cost. but on the other hand, take a look at other staples, some un avoi avoidable. flour up 12% year over year. bread up over 11%. the challenge there is these are increases on top of an already high price. when you look at last year, we saw some of the highest inflation that we've seen in 40 years. so i want to look beyond just one year to really understand how prices have changed. so if you look prepandemic at ground beef, that was around $3.80 per pound. now for the same amount of beef, you're paying over $5. taking a look at sugar from today's cpi report, sugar is up 11% year over year. when you factor in prepandemic to today, the price has
research for the bbc has found. analysts compared the prices of 23 items in france, germany, italy, spain and the netherlands. the uk is the most expensive place to buy ketchup — £1.92 compared to £1.37 in italy. toilet roll is a whopping £3.80 here — it's only £2.66 in italy. we're also the most expensive for mayonnaise, butter and margarine. but we have the cheapest nappies — £5.57 for the average pack — they're more than double that in france at £12.43. and we have the cheapest frozen pizza — £1.92, again, it's most expensive in france. if we add up the whole basket of 23 items, france was overall the priciest, germany the cheapest — you can see the uk in the middle of the table here. if you want to see more of this analysis, head to the bbc website and look for our "tackling it together" pages. now a look at some other stories
£23.80 to £25.80. a filling goes up from £65 to £73, i wonder how much that would cost you privately, no idea? band three dentures, £282 to £306. so, considerable increases. don't some private dentists do nhs stuff as well? do they mix and match, some dentists?- stuff as well? do they mix and match, some dentists? sorry, i 'ust missed your— match, some dentists? sorry, i 'ust missed your taxi match, some dentists? sorry, i 'ust missed your last line, - match, some dentists? sorry, i 'ust missed your last line, nicky. . match, some dentists? sorry, ijust missed your last line, nicky. do - missed your last line, nicky. do some missed your last line, nicky. lirr some private dentists do nhs stuff as well? tbs, some private dentists do nhs stuff as well? : .. .. some private dentists do nhs stuff aswell?: ., ., , . ,. some private dentists do nhs stuff aswell? : ., ., , . ,. . as well? a lot of practices are what we call mixed _ as well? a lot of practices are what we call mixed practices _ as well? a lot of practices are what we call mixed practices so - as well? a lot of practices are what we call mixed practices so they - as well? a lot of practices are what we call mixed practices so they will have an _ we call mixed practices so they will have an nhs contract and they will have an nhs contract and they will have a _ have an nhs contract and they will have a quota of nhs dentistry that they can _ have a quota of nhs dentistry that they can deliver, and once they deliver— they can deliver, and once they deliver that, there is no more nhs funding _ deliver that, there is no more nhs funding for— deliver that, there is no more nhs funding fortheir deliver that, there is no more nhs funding for their practice, and then. — funding for their practice, and then. if— funding for their practice, and then, if they've got capacity, they will see _ then, if they've got capacity, they will see private patients as well. so, will see private patients as well. so. that — will see private patients as well. so. that is— will see private patients as well. so, that is true. some practices are
reserves, we could get from the gulf alone. >> sandra: three seconds. >> we know there would be more energy supplies if companies did not buy back stock. a lot of refineries. >> sandra: how about an energy friendly environment in the united states, that would help. this was fun, appreciate both of you here. our friday econ panel. and john, if i could put it up on the screen, gas prices under this president when he took office, gas at 2.39. today, 3.50, up 46%. we are talking about it going potentially, according to energy experts, $4 a gallon and you look at the spr that our econ panel was just talking about, and look at this line chart and that is where we are today. >> 400. >> incredible. >> started about 700 million. >> john: a lot of stations where i live are up to 3.80, and don't get us started on california. great to see david asman again.
wage going to say the same as 7025 cents an hour for admin goes up to $13.80 an hour. washington $15.74 an hour that is the highest in the nation, doug. >> yes it is interesting because the federal minimum wage not changed into something like 12 years, bryan. many of the states of you just pointed out are considerably higher. but on the flipside there's something like 21 states i believe it is there actually lower than the federal. the federal guarantees a minimum. i think you will see some movement in washington to raise the federal minimum wage a little bit to provide relief in terms of this 21 states. but in the other states as you say it is much, much higher 13, 14000 and so forth. >> a sale that goes will go to illinois for this is interesting for the city of chicago and illinois nearing seven or murders for the second straight year. illinois are generally first the illinois safety act was into
agents took hundreds of documents from the former president's home. >> and cluster war head munitions are banned by hundreds of countries, are continually banned by countries and now russia wants access. right now, though, gas prices are cheaper than they were one year ago. some needed relief for americans who have spent this year grappling with the worst inflation in decades. for some perspective, a month ago the average cost of a gallon was $3.80. let's bring in chief business correspondent christine romans who knows all about this. good morning to you. >> good morning. >> has inflation peaked in.