Detailed text transcripts for TV channel - KGO - 20110426:10:06:00
>> the price is being driven by an irrational fear about future shortages. >> reporter: $1 per gallon increase costs the average family an extra $1,000 a year. there's no shortage, it's largely speculators driving up prices due to middle east turmoil. and the summer driving season hasn't even started yet. those rising prices aren't hurting the oil companies. this week analysts expect them to announce record profits. shell and chevron, 22%. at exxon, they're expected to increase profit by 60%. rob and peggy. >> unbelievable. well, most of us are now apparently saving gas money by staying home t...