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You. >> take care. jenna: we have a business alert for you, gas prices jumping 3 cents overnight. doesn't sound like much but it truly adds up, a -- aaa reporting the level is 3.61 a gallon. today the president will deliver a speech on energy, addressing the latest price spike when it comes to gas prices. itch edison is live in washington with more on this. hi rich. >> reporter: good afternoon, jenna. a white house official says the president will offer for phony promises this afternoon, in acknowledgement that the administration can do little to immediately reduce global oil prices. this afte...

Take a quick look from triple-a. the stats of gas prices in the administration from january 20, 2009, $1.84. there is the different increments up to february 23. $3.61. that is average. some places are higher. what about this and energy strategy going forward? bring in the panel. bill kristol, editor of "weekly standard." charles lane, opinion writer for "washington post." syndicated columnist, charles krauthammer. okay, bill, what about the president's pitch and explanation and how it plays? >> i kept looking for the speech for the most notable policy initiative of the administration, which w...

Gallagher from a chevron station in l.a.. >> reporter: pretty amazing, m.k.. in california can gas prices are typically higher, we have higher real estate taxes and higher gas price taxes here. i want to point out a couple things. this is in santa monica, so it's a busy area, but take a look at this. regular gallon of unleaded gas at $4.49. plus at 4.69, supreme all the way up to 4.79. across the country sticker shock is setting in, and we are on pace, megyn, to shatter records. take a look at the number bees. back in 2008 on this very day we were selling gas on the national average at $3.13 a...

Commodities and then that starts affecting jobs potentially. so last night, wouldn't you think at the debate that since this is the water cooler discussion with millions of americans this week, that might have been the first question out of the gate? no. not even was it not the first question, eric, it was never a question! >> it's amazing that wasn't the first question or a question down the road. it really does show media bias. the media who are basically in the obama camp, they're leaning left, they're saying, let's not bring thumb. let's not highlight this because it really is one of the t...

News changes everything. >> but first from fox at 3:00 in new york city, president obama says there is no quick fix to stop the rising gas prices. >> we cannot just drill our way to lower prices but we need a sustained all of the above strategy to develop every available source of american energy. yes, oil and gas, but, also, wind and solar. and nuclear. and biofuels. and more. >> the current average for a gallon of regular is $3.61 cents today, a 13 percent hike from this time last year. the cost increase could prove an election year stumbling block for 9 president as the overall economy appe...