Page 6 - 53 22 News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> there's -- i mean, when you see oil prices go up, you see gas prices go up. that's just the way it works because gasoline is refined out of that light, sweet crude. so even if you don't have demand for oil in the -- crude oil going or for gasoline going up in the u.s., you see prices going up. a year ago today the price for a gallon was $2.67 and it's now $3.22 gallon. it's up 20%. folks that watch this who say by the time you heat the peak driving season, you could see $4 gas again maybe. there are those who say $5 is possible. >> really? >> i can't guess. i can't tell you where it's going...

Gas today at $3.22 per gallon. our next guest has a stark warning for all of us. he says we're facing potentially the biggest oil crisis ever. he is a market analyst as pfg best research and a contributor for fox business. the worse crisis ever, phil, why. >> reporter: it is, we don't know where this is going to end. today we're talking about libya. tomorrow we could be talking about algeria or yemen or heaven forbid saudi arabia the world's largest oil producers. the oil prices are settling down a little bit because we hear from opec members, mainly saudi arabia that they are always making pl...

Latest updates on this topic from reliable sources.