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>> heather: thank you, peter doocy in washington. >> gregg: some americans driven to desperation risking their safety for cheaper fuel. in san diego, a gallon of gasoline costing 4.40, but miles across mexico it is below $3. so folks are heading south and driving head-on in out of control drug gang violence. >> reporter: aaa reporting that the national average for a gallon of gas unleaded regular is going for 3.84 in this country, but as we were talking about, the average in california are you ready, a whopping 4.35 a gallon. second highest in the country behind hawaii. so it's no surprise in ...

Not too cheery, weak demand expected to slam the profits for the rest of the year. that added to the surging oil price at a nine month high and my guest says the threat is very real. what is going on here? >>guest: well, it is simple. in the first year of the obama administration the average price for gas, all types, was $4.40 and now we are between $3.50 and $4, $150 billion in additional spending for consumers just on gas. that does not include everything else that goes up in price. that includes a potential for serious head wind for an economy trying to get off its back. >>neil: people have...

And throw this into the mix, the underlying price of oil has stopped going straight up. when you add up lack of demand and a lower -- slightly lower price for the underlying price of oil, you add it all up, and just maybe that spike in gas prices is coming to an end. maybe we will top out at $4 a gallon as the national vam. maybe. bill: really? >> it's possible. i don't make forecasts but you add up supply, demand, what's happening with the refineries, what's happening with this much lower demand, because we are driving a whole lot less, could just be we top out at $4. could be. bill: does it ...

Now. >> reporter: they're desperate. >> i'm hoping because i'll have to get rid of one of our cars. >> reporter: is it all about the market or is there price manipulation going on? the justice department's pulling together a task force to investigate. >> we're going to make sure that nobody's taking advantage of american consumers. for their own short-term gain. >> reporter: the financial fraud enforcement working group will look at traders and speculators, although so far, there's no evidence of wrongdoing. >> the bottom line is, many of these speculative activities might be perfectly legal. ...