Gas Prices Hit New All-Time High

Bianna Golodryga explains how prices could keep rising until the Labor Day weekend.
3:00 | 08/21/12

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Transcript for Gas Prices Hit New All-Time High
New information about gas prices this morning they've just hit the highest level ever for this time of year and. We can GMA anchor beyond -- military -- has more on the price spike be on good morning to you hey good morning to Josh and unfortunately prices are gonna continue to rise in the next few weeks let's take a look. Right now. Drivers are paying on average three dollars and 72 cents a gallon. Take a look compared their one year ago they're paying 357. And prices are expected to jump another few cents by Labor Day so what's behind the increase. -- oil prices and problems with refineries and pipelines like this fire at a California refinery. Prices are up about 12% since July but there is a silver lining Josh expect prices to start falling again after Labor Day holiday -- -- -- I think we will take be on a thank you for that.

This transcript has been automatically generated and may not be 100% accurate.

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