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Almost everything is getting more expensive. the consumer price index, which is a key measure of inflation, just hit a new 40-year high, rising 7.9% over a 12-month period that ended in february and that means we are paying more for pretty much everything. including gas. so, just how costly will those gas prices be for americans? a new report from moody's says they could drain an extra $1,300 per year from your wallet. right now, aaa says the average price is $4.32 per gallon nationally, up nearly 60 cents in a week. cnn's vanessa is at a gas station in new york city. what are you hearing ther...

With our everyday pricing. switch today. >> john: democrats are once again targeting big oil companies as they accuse them padding profits. average cost ticking down a few cents, from 4.32 on monday, to 4.28 today. jeff flock reporting for fox business at a tank farm in philadelphia. jeff. >> kinder morgan tank farm here in philadelphia, bad news on oil if you don't like high oil prices. we are back over $102 for the barrel of oil, bad news, we did as you report got a little bit of a break on gas prices yesterday but i think they are headed back up again on news, i think, from the i.e.a., inte...

>> reporter: this morning they are waking up to gas prices at $4.32 a gallon. this is coming after americans were already experiencing high inflation which pushed gas prices higher. but the worst is yet to come for drivers filling up at the pump. fo forum to 15 hours a day, cab driver wayne looks for passengers. >> 150 miles on an average day. >> reporter: with business down prepandemic and gas prices at a record high, he says he's barely surviving. >> most of our gas stations are expensive wherever you go. >> reporter: and his taxi medallion, the extra $100 a week he is spending on gas for hi...

Deliveries starting wednesday to offset sharply rising fuel prices. the nationwide average is now $4.32 for a gallon of regular. that's right. all-time high. we're right around that. and now the white house is scrambling to fight the surge which was sparked by russia's invasion of ukraine. cnn is following this. paul, you've been talking to food truck operators having to deal with this impact. how is it affecting their business? >> reporter: their businesses are getting budgened. $5.79, the average in california $5.73 a gallon. for food truck operators, no small business, the southern californ...

And if we were to back-fill planes to poland because poland is giving their russian m.i.g.s to ukraine. >> i want to talk about what's going on here at home, what americans are experiencing. gas prices have climbed to $4.32 per gallon, now president biden attempting to buy oil from other countries with questionable human rights records like saudi arabia, venezuela, do democrats and the biden administration bear any of the blame here from past moves to limit domestic oil production? >> few points on this, first, there is more oil production today in the united states than over a year ago when p...