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Rising gas prices once again have many Americans pinching pennies right now the average price of a gallon of gas is pulling around three dollars 55 cents a gallon.
But about -- joins us from New York with more on -- bigger impact to lose gas price hikes may hat hello -- that.
Patient you know -- -- adding to the hurt Americans feeling in the economy back that the year.
As the latest government numbers tell us what we already know.
Drilled down in the -- of official inflation numbers out Friday.
It -- gas costs and discover there at nine tenths percent last month.
Last gas prices are at their highest level ever for this time of year.
Yeah that's the winter has been a warm one for the East Coast.
But the higher prices could have a chilling affect not only on consumers but on -- -- recovery.
Some predictions are gas reaches a record for box and a quarter nationally.
By late April.
I -- and that's higher on either coast.
Now look at gas prices and you've got to go back to oil prices well over a hundred bucks a barrel now much of -- current rise of prices there is due to supply disruption.
The threat from our -- that it may choke off supply throughout east right.
The tension in Israel that it could retaliate over -- -- and weapons.
A cold winter in Europe and rising demand in countries such as China is helping fuel higher prices in Brent North Sea crude.
Here at home there are other factors adding fuel to the buyer the forecast for the spring and summer as a -- one.
This is the time that refiners to spend their operations.
And many are close to being sold or shouting down.
For that reason price is almost always take a hike in the spring then in summer driving increases in prices go.
Well up again.
By many estimates even a 25 cent in gas prices increase over right here.
Cost the US economy about 35 billion or two tenths percent.
Now that doesn't sound like much just a drop in the pocket right.
But whenever growing under 3%.
A year that the -- one that could take the heat out of any recovery and back to you.
I thank you very much thank you --
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