Gas Prices on the Rise

Conflict in Iraq triggers the rise in oil prices.
1:46 | 06/27/14

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Transcript for Gas Prices on the Rise
We begin with that unwelcome surprise for millions of Americans, the gas price higher. Gas prices going up every day for weeks. From San Francisco, up to $4.71. And from Massachusetts, and from Florida. We begin with Rebecca Jarvis on why there's no end in sight. Reporter: Tonight, Americans paying more to fill 'er up this summer than they have in six years. The average price nationwide, $3.68 a gallon. Californians shelling out a staggering $4.12. Prices popping as families like the Merritts hit the road for vacation. It's a good thing we have this car, because the last car was fairly inefficient fuelwise. Reporter: Their annual trip from Chicago to Martha's vineyard, already 4.5% more expensive than last summer. And it could get worse. If prices at the pump spike to $5 a gallon as some analysts are predicting, the Merritts will go from paying $312 to a whopping $424 on gas. That's $100 more for the same trip. Prices climbing every day for 16 straight days. All this with one of the biggest travel weekends of the summer just ahead. Experts tell us prices could jump another nickel by next weekend. And here in New York City, prices above $4. Thank you. And now to the other nightmare on the road. These images of a dangerous crash on I-95.

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