VIDEO: Gas Prices Rise 10 Cents In Two Minutes

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BEFORE:

abc gas price 1 ll 120222 wblog Price Shock: Watch Cost of Gas  Jump 10 Cents During ABCs World News Broadcast

AFTER:

abc gas price 2 ll 120222 wblog Price Shock: Watch Cost of Gas  Jump 10 Cents During ABCs World News Broadcast

“Don’t blink at the gasoline station,” advised ABC News’ Diane Sawyer after gas prices at the station behind correspondent Cecilia Vega rose 10 cents in just the two minutes.

When Vega introduced her story on rising gas prices in front of a Los Angeles gas station, the price for a regular gallon of gas read $4.99. By the time ABC cut back to her for a live shot it has risen to $5.09. “And Diane, take a look at this, it is almost too unbelievable to believe. Just while we were on the air with the two minutes of that story the gas prices here at this station went up by 10 cents,” Vega said.

According to GasBuddy.com, the average price for a gallon of gas in California is currently $4.13. That is up almost 5 percent from just last week and up 12 percent from last month. Prices are lower elsewhere in the nation but the trend is the same. According to the U.S. Energy Information Administration, the price of a gallon gas is an average $3.59 nationwide, up almost 7 percent from a week ago.

President Obama is expected to give a speech in Miami, Florida today explaining why he is not to blame for raising gas prices. He will claim that oil and gas production is at an all time high under his administration. But this oil and gas boom is happening in spite of Obama, not because of him. In reality, it is oil production from private and state lands that is fueling rising U.S. production. The Obama administration is setting records for the least amount of offshore oil acres leased. He has leased less than half of the offshore acres than President Clinton did.
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