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Gas prices are at a seven-year high and you contrast that with how cheap the energy was at the beginning of the pandemic. but now supply cannot keep up with demand as consumers get back on the road. >> dan simon is at a gas station in san francisco. what are the prices looking like there, dan? l . >> well, the highest gas prices in the san francisco area. $4.89 for a regular gallon of unleaded gas. of course, california typically has some of the highest gas prices in the country, but a little more sticker shock these days in light of the price of oil fitting that seven-year high. and nationall...

>> harris: wow. he says it, doesn't he? many of you are getting hit hard biff the supply chain crisis. high prices, empty store shelves are all over the place. major retailers such as target and home depot have a tough time keeping products in stock as cargo ships are stuck in ports or farther offshore. the cost of gasoline is making it more expensive to get inventory to stores. even if you can get them off the ships, getting it here is pricey on those trucks. another whammy for consumers, the average priels for a gallon of gas has hit a seven-year high at $3.27 a gallon. only a handful of sta...

>> trace: thank you. yes. joining me now, steve moore, the former senior economic adviser to president trump and marc thiessen, former speechwriter for george bush, aei scholar and fox news contributor. that's what i said, marc. jeff flock talk about $3.27. it's 5.29 out my door. look at the scenario. if there were gas lines, you'd think we're in 1979. >> no, that's right, this is the second coming of the carter administration. we have run-away inflation, hostages in the middle east and the president begging opec to produce more oil because we have shortages at home of the it's like the 1970s....

In philadelphia. hello, jeff. >> trace, to paraphrase the old brooks and dunn song, costs are going up at the pump particularly. $3.49 at the sunoco in philadelphia. 3.27, 3.28 right now if you round up in terms of the price of regular on the average in the u.s. up eight cents in just the last weeks. up 11 cents since this time last month. $1.10, $2.18 this time last year. the folks we talk to, whether it's in the well-healed neighborhoods or the inner city, other starting to get pretty upset about it. listen. >> $120? $120. >> that's a lot of money. >> i'm not talking about ebt or food stamps...

Americans pay attention to the cost of gasoline. i mean, we see it every time we drive by the gas station. we feel it whenever we fill up, so that's why it is so important that we've seen the regular price of gasoline go up to $3.27 a a year ago. it's almost double the lows of april 2020 and some people in states including illinois, in washington state, california, of course, they're paying more than $3.50 a gallon. u.s. oil prices have gone up and closed above $80 a barrel for the first time since 2014 and demand has returned, people are driving and flying and commuting but supply has not rec...