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And host of bulls and bears brenda buttner here to say why. >> reporter: harris, what goes up, must come down. doesn't feel that way at the pump but you may be surprised in the next few weeks, so much so that october's peak average of 3.86 a gallon may fall by 50 cents by the end of next month. the best sign of that? wholesale prices are falling fast in some markets for more than four bucks to nearly 2.50 a gallon. typically when hole sale drops, so do the prices you pay after a bit of a lag. what could fuel the plunge in gas prices? inventories are up and demand is down. usually memorial day ...

National average $3.86 a gallon.

In a lot of places, now the average is 3.86, nationally. that affects americans in their pocketbooks. what does each candidate need to say and do and how specific do they need to be with just weeks left in those debates? >> they need to be more specific than they have been. this is a topic that obviously is very good for mitt romney because the status quo is not working for many americans and that is the message that they are trying to push. but, mitt romney has not been very specific in terms of how he would create more jobs, and that is something that we have yet to hear from them and maybe ...

The gas pumps. as of today paying an average of $3.86 a gallon regular. price going up almost 50 cents in the past two months. also on the rise, the stock market. big gains tacked on last week after the federal reserve announced more quantitative easing known as qe-3. however a credit rating agency downgraded the u.s. debt rating from aa to aa minus following that decision. joining me is jared bernstein, former chief economist for vice president biden. welcome back to the show. thanks for being here. >> sure. >> we're looking at this. we have egan jones rating -- that agency rating qe-3, say...

Of fears not only when it comes to foreign policy but when it comes to our economy. one of the things we watch when there is unrest in the middle east is oil prices. right now the average price of a gallon of regular gas is $3.86. that is up about 16 cents from a month ago as you see on your screen. liz macdonald from the fox business network is live with more. liz, as far as what the impact all of this could be on the market, what is wall street telling you? >> reporter: wall street is telling us they're worried about the impact on consumer wallets because consumer spending basically has been...