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Crisis spiraling upwards and we are in the middle of it. the average price for a gallon of regular gasoline is $3.53. that is up 20 cents a month. it is going up 1 cent per day. in california it is $4.74. if you gas station to see $6 a gallon in california. that adds up to an inflation situation that you can see and feel it almost every sickle day. it is particular hurting rural areas where you have to drag great distance and delivery drivers. it is inflation and energy price inflation. it is spiraling upwards and not getting any better and likely to get a whole lot worse. will: those numbers ...

With west texas oil at $94 a barrel. and look no further than california to see the consequences of this global problem. today, the average price of gas in california a record $4.74 a gallon and when gas hits a record in california, that is saying something. but president biden said "he's on it." watch. >> we are executing a plan a coordination of major oil-producing consumers and producers towards a collective investment to secure energy supply. this will want gas prices. >> yet, there are many leave that will depend largely on the next moves made by vladimir putin, shannon. >> shannon: as we...

$4.74. are you, is congress doing enough to prepare the american people for the cost that may come as a result of putting this pressure on putin? >> probably not enough. the american people need to understand who is making the big profit on the gas. right now i would call for congress, senate and house to conduct immediate hearings on the profitability of the oil industry. there is clearly price gouging going on here. they will whine and say it's not us. it's the saudi arabians or somebody else. the profit of those industries have gone through the roof. >> the profit of the companies. it is yo...

Quickly. >> reporter: david, that pain is something americans are already feeling. the economic consequences. with gas prices up 20 cents in just the last month. the national average tonight, $3.53 a gallon. in california, a record $4.74 a gallon. and this comes amidst already rising inflation. russia is a top energy producer throughout the world. 7% of our oil imports come from there, and any disruption to supplies will certainly push prices higher and that has a ripple effect on everything from clothing costs to groceries to furniture. david? >> rebecca jarvis, martha raddatz, cecilia vega, ...