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Jack gerard from the american petroleum institute talk about this a little bit earlier. i didn't do that for the camera but for us. on the $3.76 national average of gasoline, $2.55 of that is the crude oil price. then you take it down to refining and marketing, $0.40 for a gallon. transportation, you have to move the stuff around, $0.15. federal taxes 18 1/2 cents. call it about 20. after taxes, transportation and all the other things going on, the gas station owner is left with somewhere around 5 to $0.10 a gallon. so american small businesses making $0.05 to $0.10 a gallon, meanwhile we're s...

Gas prices, that topic on everybody's tongues and inching i guess higher now for the last three straight days. the nationwide average for regular demand at $3.87 -- $3 6 $3.76. what has been driving up gas prices and might they hit $5 a gallon? here is what the ceo and chairman of the world's largest oil company told matt lauer in a "today" show exclusive. >> what drove these prices up is entirely the crude oil price. supply/demand is fine. what's led to this, oshl conc n obviously concerns about the rhetoric of the closing of the straits of hormuz and the conflict was iran. >> a lot of people...

But china is growing at such an exponential rate as is india, they are taking more energy every day. unless we fix this, we in the united states of america are going to be in a terrible bind. the president is trying to deal with this with more electric cars, moving to wind and solar. as he says, all of the above. we're drilling now more than we've ever drilled. he's given out more permits than any president in the history of the country. he's doing it. republicans are just playing politics on the senate floor. >> in the suburbs of philadelphia yesterday i filled up. i paid $3.76 a gallon which...

>> here's what happens. if mitt romney loses, the conservatives are going to say if we nominated someone with a spine with conservative principles, we would have beaten obama. we need to do that. >> mr. insider is that credible? >> i know they will. >> does santorum have another fight in him? >> he's 48 years old. >> i don't think so. the bench for every complaint about 2012, the 2016 bench for republicans is very deep. >> rick santorum has been the most hero ike i don't agree with him on most -- but he's been the most heroic. he's walked in there with two 3s in his hand. he's up against the r...

At $3.76. it's 28 cents higher than a month ago. that's what's been driving up the gas prices. might they hit a $5 a gallon price? here is what the ceo and chairman of the world's largest oil company told matt. >> what drove these prices is entirely the crude oil price. supply/demand is fine. what's led to this most recent run up concerns about closing over the straits of hormuz and the conflict with iran. >> a lot of people are talking about 5 a gallon coming up in the summer months, is it just a headline? >> i would not expect to see prices reach that level. >> exxon mobile's chairman says t...