Page 4 - 64 32 News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Cnn business and politics correspondent vanessa is with us right now. vanessa, a seven cent jump in just one day. just how high could the prices actually go? >> well, if three days of record-setting gas prices are any indication, they are going to keep climbing and much higher. we are at $4.32 a gallon nationwide. that is up 7 cents from yesterday's record and up almost 80 cents since the russian' invasion of ukraine, which was on february 24th. now, this is all coming on the heels of really high inflation that americans had been experiencing. that's been pushing gas prices higher. now, accord...

Drivers. americans are seeing record-high gas prices. the unprecedented spike will take a significant chunk out of household budgets, and there is concerns that higher prices could hurt the broader economy by forcing families to cut back >> reporter: from the grocery store to the gas station, we're spending more on just about everything. >> most of the gas station expensive anywhere you go. >> national average price for a gallon jumped by seven cents to a fresh record of $4.32 on thursday. court triple a. up 59 cent ins one week. and 78 cents sincest start of russia invasion of ukraine. we hav...

>> you mentioned it's very much a boom to bust scenario. does this last? is there any way to know? >> there is no way to know. if anything, the last few months have shown how hard it is to predict anything in this covid economy, certainly dwgiven the geopolitical concerns as well. but we already see gas prices level out. the national average dipped down to $4.32 a gallon. that's not cheap but it's a step in the right drirection. the national average by 20 to 25 cents a gallon in the next days and everyone watching closely to make sure this price relief gets passed along to consumers at the gas...

Commodity prices overall are going to put a strain on the economy. so you've got a very mixed economic picture, good on the employment side, good on the economic growth side, but a real danger for inflation and the economy is still expected to moderate over the course of the year. that outlook has gotten cloudier as a result of this war, kate. >> that's a great point, john, thank you very much. as john is getting at, consumers pay more for basically everything. in the last two weeks, gas prices, especially have jumped staggering 78 cents given the war in ukraine. aaa reports the national avera...

Goes up. >> bill: average gas prices today, $4 -- $4.32. last year $2.85. phil, you're back. go ahead and answer. >> windfall property tax is tax on americans. they'll be paying for it. i never seen more short sighted energy policy from any administration in history. it's not only the things that they done that are on the record, it's the invisible hand against the oil industry. investors are afraid to invest in american energy. this administration saying we don't like american energy. we want to get out of the energy business. we want our oil from places like venezuela and opec. everybody is ...