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CNNW CNN Newsroom February 24, 2012



roulette. straight to washington we go to lizzie o leary. we re talking gas prices. they jumped 3 cents a gallon from yesterday to a national average of 6 cents a gallon. why have they gone up? i wish i could give you the political sound bite the politicians want, but it s just not that simple. the world is big. there are three things driving this, and that is essentially the price of oil that s influenced by iran and the middle east, supply and demand, you have a lot of people, certainly in india and china, who are getting richer than they ve ever been before using more, and then speculators. it sounds like an evil word. sometimes it means banks and hedge funds, but often it means the investments that you and i and anybody who has a pension hold. pension funds, remember, betting the oil markets just like everybody else. these aren t just people who are actually going to use oil at the end but people who make money on the price of oil going up and down. so even if y ....

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