Page 11 - Winter Blend News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Business correspondent is here. let me throw out a couple of other figures. an average of 46 cents up over the last four day, including a record 19 cents joust friday, according to triple-a, that's 50 cents more than last week. what is going on? >> incredibly dramatic numbers. the basic thing is a temporary reduction in supply. we have seen an exxon mobile refinery close that is up again, that may bring the price down. we saw a chevron pipeline that pumps crude oil from southern to northern california, shut down. and then there is the issue of cleaner-burning fuel in california. basically, it ...

All-time high of $4.61 a gallon. that is up an astounding 12 cents since just yesterday, and 47 cents in the past week alone. nbc's diana alfier joins us live from burbank, california. thank you for being here. why has this price shot up so quickly? >> reporter: milissa, that is indeed the question on everyone's minds around here. check out what the price is at this station in burbank, $4.69 per gallon for regular. now, experts tell me the reason for all of this happens to be a perfect storm of events. right now stations are changing over from their summer blend to their winter blend, which me...

Gone up 12-cents from kwrez are. that is the highest single day spike and the highest price in four years according to aaa. experts predict its likely this will break the record of $4.62 set back in june of 2008. and it's possible we could see the average break the $5 per gallon. this all due to inventory problems, refineries already decreasing production as they wait to switch over to the winter grade fuel at end ever the month. this past monday the refinery in southern california was shut down because of a heat-related power outage. there is a refinery in northern california off line because...

That's down from 76 percent back in 2009. what's worse banks think you are going to pay their fees because you are too lazy to reroute all of your direct deposits and bills you pay monthly. >> they have gone down but the difference is minuscule. >> this is intentional drivers out there. cheaper winter blend gasoline is available at your local gas station. of the national average as of this morning it is 3.81 cents a gallon. prices are better through the end of the year. summer is now over. >> the winter blend is cheaper. >> okay. all right. good to know. >> then finally apple. could be worse. ...

Rigs, refineries, even a critical pipeline shut down. cnbc's scott cohen is there. >> the good news is it appears there's been no damage to the oil rigs offshore or refineries along the coast. the issue now is getting them back up and running. the longer that takes, the higher prices could go. >> reporter: and there was also a ruptured pipeline in wisconsin, a refinery fire in california, an expensive summer gasoline blend. gasoline prices aren't expected to stay this high. >> between thanksgiving and christmas, the national average may drop to the mid $3 range. and certainly some areas could ...