Gas Prices on the Move Again

Rebecca Jarvis tracks the latest trend at the pump.
1:29 | 08/16/13

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Transcript for Gas Prices on the Move Again
Egypt's violence could affect shipping routes for oil. The price of gas has been coming down, though. Tonight across the country, the cost of a gallon of gas, $3.54, three cents last than last week. But tonight oil prices on the move upwards because of egypt. Rebecca jarvis is with us now. Reporter: Tonight the economic toll at gas stations across america, prices rising as the violence in egypt escalates. It's scenes like this in egypt that make for this here at home. Traders in new york watching and dissecting every headline coming out of the region. Sending oil prices surging more than $10 in just six weeks since egypt's military forced president mohammed morsi out of power. Tonight, prices well above $100 a barrel with that violence escalating. But the bigger threat to pump prices may be much closer to home. With hurricane season just around the corner, a major storm in the gulf of mexico -- where nearly half of our gasoline is refined -- means we could be waiting until mid-fall for pump prices to stabilize. Again, after multiple days of declines, americans paying more at the pump as they fill up and head out this weekend.

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