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We don't know in january of 2012, but if we're going to 3.65 now possibly to 5, what does your gut tell you that ramifications are on that? >> $5 is a new number. $4 during katrina, on a couple of different occasions. i don't think that would have a long-term political effect on the environment. $5 gas is a new number and that psychologically and real economic terms could be really damaging to the economy and the political landscape if you're the president. now, whether or not we get there is an open question. i think the people who study this rightly point out that demand from emerging market...

Think is stretching it and i think the president has here again, another story to tell about what he has already done to make america less dependent on foreign oil and to produce it at home. >> $5 a gallon gasoline could be quite the october surprise for president obama. you need to see how this issue plays out. thank you so much for joining us, guys. the fear of $5 a gallon gas are growing, but the frustration felt at gas stations isn't stopping a wall street surge. the dow jones once again hugging the 13,000 mark, but a consumer backlash can pose more problems down the road. let's bring in...

That that guy is making $0.02 a gallon on that gas. there's no way. he could be making 30, 40, $0.50 a gallon. new york national average, if you can go to triple a, maybe we can get the producers to do it, find out what the new york national -- the new york state average is. if it's $3.58 or $3.60 or $3.65, he's got a $4.50 on there, something is wrong. >> we have a lot of different problems here. we can have gas stations maybe gouging and charging -- >> that's a problem when prices go up. >> bottom line is prices are going up and my question to you this morning is the expert on the couch on t...

May not be a whole lot better. the average nationwide price of se self-serve gas has topped $3.50. it's risen at a break-neck pace. almost 34 senlts in two weeks according to aaa. that's the fastest, highest increase since right after hurricane katrina. if this rate keeps up, not that it necessarily will, we will set a new record for the price of gasoline inside of a month from now. the highest average gas price to date is $4.11. you can see it there in the middle of the charge. $4.11, that was july of 2008. remember, averages are made from extremes, which means that the $3.51 average looks pr...

$3.35, $3.49, $3.79, 3.89 and in d.c. -- >> i just had a mild heart attack, but i'm doing better now. >> reporter: $3.65 on one side of the street. $4.55 on the other. >> oil has been high. i don't know why. >> reporter: nationwide, you pick the gas station, the complaints sound the same -- >> they're killing us. they're killing us. i'm out of work. i don't know how i'm going to afford to live. >> reporter: while yesterday's national average for regular unleaded was $3.43 a gallon, it's well above that in many big cities. washington averaging $3.50. new york, $3.68, up 30 cents in a week. chic...