Page 4 - 74 70 News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Several states now with gas prices at more than $5 a gallon. in fact, the average price now nationwide a record $4.70. so, what to expect in the coming summer weeks and then beyond. and then the eye-opening acknowledgement tonight on inflation. treasury secretary janet yellen saying she was wrong on inflation, that she didn't fully understand the risks. abc's kaylee hartung in california tonight. >> reporter: tonight, this gas station sign showing $8 a gallon. a literal sign of the times. >> this is the most ridiculous thing i have ever seen in 21 years of living in los angeles. >> reporter: t...

I want to play from you, we heard from members of the senate along with spokeswoman at the white house talking about why these gas prices are so high. take a listen and i want to get your reaction. >> as the president had said, president putin's actions are what is driving the price increase at the pump. the president is focused on doing everything in his power to address the putin price hike. >> you can thank the activity of vladimir putin for invading ukraine and pulling-- >> with all due respect, madam secretary, that's utter nonsense. >> congressman, i want your reaction. do you believe th...

Price is lower. the national average at $4.70 is the highest it's been so that cuts into consumer spending. it does appear from target and walmart people are buying luggage so they're planning to take summer vacate nations and so they're planning to fly rather than drive. essentials are important. so food has been purchased in more bulk and basic goods and services over consumer electronics, for instance. those things are being substituted by consumers. so, it's kind of typical, you know, end of cycle behavior when the fed is raising rates, affecting housing prices, car prices and thing like t...

Posed to blame the omicron variant and the tight oil supply. the most expensive is california, $4.72 a gallon. hawaii, $4.49. washington, nevada and oregon all up over $3.90. >> it's bad. we go from maybe $3.50 to $4 up a up to $4.70. >> aaa says there's no signs of relief expecting the trend to hold. keep in mind the warmer weather and the increase in demand over the summer. sandra? >> martha: thanks, molly. now to edward lawrence. we've been pressing the white house for some answers on how this proposed gas tax holiday, how it would work. how much it would help. just how much it could cost. ...

Any sort for 70 years. that's not true. and for employing, "word salads in response to questions." she did that. still, the white house might argue leaving her here in washington with all that's happening in europe might look even worse than sending her there. it's not an easy call and apparently a fairly tough one for this white house, shannon. >> shannon: we've had her, the secretary of state, secretary of defense and now the possible conversations of some kind between the two presidents as this thing escalates. thank you very much, kevin. see you again in just a few minutes. >> reporter: yo...