i'm going to show you a spike, a real spike. look at this, the state wide average for gas, i'm talking regular gas, not that premium stuff you put in your mercedes. no, this is not mercedes premium beverly hills stuff, this is regular, up 17 cents state wide. 4.48 is the california average and in individual cities. it's as bad if not worse. ventura up. 4.53. l.a., up 9 cents in one night. 4.53 and in san francisco 16 cents higher at 4.59 we are going to talk to our buddy, the gas buddy, at the top of the hour. where has this been going. republican congressman kevin brady joins us from houston. this is friday, jobs report, you've seen the numbers, a sharp drop to 7.8%. i want your initial reaction to this. what do you think? >> you know, i think we're focused on the the wrong number. i think the jobs number. 114,000, extremely weak again, doesn't even keep pace with population growth. we ought to be 250,000 or 350,000 new jobs every month. this far out from the recession and if you look closely at the unemployment number, yes, mo

spike? >> well, i think it depends upon how quickly electricity gets back up, because what could make it very difficult is if you take two or three weeks to get retail stations to where they can operate normal labor day the distribution system operating normally, you could see, i don't know, 20 to 50 cents a gallon, which could be a short-term spike. if the refineries are damaged or the sports are damaged, you could see that kind of a spike or more because you can't really get gasoline from the midwest where it's in plentiful supply unless you truck it. the colonial pipeline will help, but i understood that one was shutdown for safety reasons, but that's not enough. the northeast has grown in the last 50 years, mandy, but we haven't built any new refineries. >> john, that's it. maybe salt mule can tow a barge of fuel from cleveland east, because that's about where we stand right now the last major refinery in america built the last one, 1977 in gariville, louisiana, but we are shocked as a c

retail prices could spike by 30 cents.on owners may have oh sell unleaded at $4.75 just to break even. it's going to be painful for deb, whose suv gets 12 miles to the gallon in the city. blaming high gas prices on the heat is farfetched. >> the gas company finds any reason they can. if it's going to be the heat, it's just another excuse. >> reporter: if california doesn't pick up production soon we could see a worse case scenario of $5 gas. for the lowest gas prices check out cbssf.com. >> how does someone disappear without a trace? that's what family and friends of a missing bay area man want to know. he was last seen leaving a friend's house just a couple of blocks from home. that was two weeks ago. juliet good rich on the heart felt search to figure out what happened. >> i really think he's going to come home soon. >> reporter: friends and family gather at sacred hart and church to pray for eric garcia's safe return home. this guy with a big heart went missing mysteriously. >> it's out of character for my brother. >> r

they spike for a little bit. 24, 48 hours and then come back to where they were before. >> brenda: jonas? do you have any concerns about this? hurricane isaac when it hit, caused the biggest jump in gas prices in 18 months. >> and in this case, no, in connecticut i couldn't drive because tre were trees down and your mobility goes dn to the point where fuel consumption wi dro as much as refining capacity unless it freakingly hits the refinery because you can't get to work, major power outages, no power for a week and you're not consuming energy when you can't turn on the power and can't get to work in your car. so it's a good thing, but keep the gas price froms going bananas in the first place. >> brenda: the east coast provides 6 1/2% of the gas that the u.s. uses. that's kinds of a-- could be a hit. >> i don't thinkt's going to be a very big hit. look, the prices may well go up, even if just one light bulb at one refinery gets knocked out because they rise and fall based on expectation of demand and supply, not the reality, so, they could go up a little bit. we could have a big one-day

spiking earnings rose 27%. membership fees up. revenue up. comp store sales up.not yet killed by amazon. >>> not such good news for h&r block today. down. >> saying they may sell its banking unit, it's hired goldman sachs to advise. the ceo of h&r block saying dodd-frank means higher capital ratios. that will eat into productivity and profits. we don't think we can do it. generally stocks rise on news like this. not hrb today. >> yum! brands reported its earnings late yesterday. >> lot of concern around this company about china. but not today. earnings and sales topping estimates, raised its full-year forecast. stock well up year to date. >> china is its largest market. >>> if you did not already know apple products were popular among teenagers, we now have numbers to prove it. a survey by piper jaffray shows teens, 44% of teens have iphones, 47% own tablets in general and ipads account for 72% of those tablets. let's dig in more. joining us, gene munster, managing director of piper jaffray and top apple analyst. gene, are apple's goals really -- if they were all

>> well, they weren't going to be able to spike it if they didn't make a first down and they had about 19 yards to make. you have to trust eli manning, give him a shot to get the ball to the sideline maybe pick up ten yards and know that your quarterback is going to make a good decision. if he can't, get at that sideline completion, throw the ball away and still dick your long field goal. >> what about the yofd icing the kicker. the time-out gives them a second chance. tynes missed them both. you see that strategy used all the time. you wonder if it's to the advantage of the kicking team sometimes. >> i'm with michael vick on that. i do not believe in that, icing the kicker. you give him a practice shot. what it could have done here is tom coughlin could have looked at that and said said, hey, 54 yard is too much for tynes right now, let me run that third down play. there's a lot of disadvantages to calling that time-out. i don't agree with that strategy at all. >> we'll turn now to mike florio, pro football talk. and ask mike as we do every week, to take us through some of the day's b

>> well, they weren't going to be able to spike it if they didn't make a first down and they had about 19 yards to make. you have to trust eli manning, give him a shot to get the ball to the sideline maybe pick up ten yards and know that your quarterback is going to make a good decision. if he can't, get at that sideline completion, throw the ball away and still dick your long field goal. >> what about the yofd icing the kicker. the time-out gives them a second chance. tynes missed them both. you see that strategy used all the time. you wonder if it's to the advantage of the kicking team sometimes. >> i'm with michael vick on that. i do not believe in that, icing the kicker. you give him a practice shot. what it could have done here is tom coughlin could have looked at that and said said, hey, 54 yard is too much for tynes right now, let me run that third down play. there's a lot of disadvantages to calling that time-out. i don't agree with that strategy at all. >> we'll turn now to mike florio, pro football talk. and ask mike as we do every week, to take us through some of the day's b

the first spike, that's military spending going up, going way up for the korean war and then you seecomes back down again. the second spike, that's military spending going way up for the vietnam war and then it comes back down again. the third spike, that's the cold war, giant arm's race buildup and the soviet union starts to collapse into 1991 and our post-cold war spending comes back down. then the terrorist attack in september 2001 and the spending goes back up. the reason this does not show it going through the roof is because for the whole bush administration they did not count the spending on the wars in iraq and afghanistan as if it were defense spending. they did it as an emergency so this is just the base defense budget. this just shows how the base defense budget went up after 9/11, not including that emergency spending on iraq and afghanistan. now here's the amazing thing. watch this. so this is where our spending is now. that's what the blue line means. if we were to let our spending drop like we did after the end of the cold war, our spending would look like this. now yo

police deploy more spike sticks over the next several miles. >> struck another spike belt. i believe it's in the truck tires now. has no front tires anymore. he's running on the rims. >> but the driver speeds on. >> we're getting into the city. this guy is not stopping. >> the school bus is now inside the city line. just miles for albuquerque's most congested areas. a state police cruiser attempts to ram the bus off the road with a pit maneuver. but after three miles of vehicle to vehicle contact, the cruiser's front end is heavily damaged. hoping a bigger vehicle has a better chance, a police suv takes the lead. the pit maneuver is successful. police immediately sur round the bus. inside, the driver revs the engine as if trying to escape. officers respond with a nonlethal bean bag rounds. suddenly a member of the sheriff's office fires real bullets into the bus, striking the suspect three times. immediately a state police officer is seen shouting at the deputy sheriff. the suspect, meanwhile, is pulled from the bus, covered in blood and wearing only boxers. he's identified

be hit b the hurricane has about 6% of the refining capacity, that will put a little dent, sure, a spikeices, but i think what jim was talking about, we've been through this before. multiple times, hurricane katrina, hugo, et cetera, et cetera. the snow-ma geddon to hit the east coast, each time people thought this is it. they spike for a little bit. 24, 48 hours and then come back to where they were before. >> brenda: jonas? do you have any concerns about this? hurricane isaac when it hit, caused the biggest jump in gas prices in 18 months. >> and in this case, no, in connecticut i couldn't drive because there were trees down and your mobilit goes down to the point where fuel consumption will drop as much as refining capacity unless it freakingly hits the refinery because you can't geto rk, major power outages, no power for a week and you're not consuming energy when you can't turn on the power and can't get to work in your car. so it's a good thing, but keep the gas price froms going bananas in the first place. >> brenda: the east coast provides 6 1/2% of the gas that the u.s. uses. th

what a federal investigation could reveal about the price spike. donation dollars - how power players spend billions to get candidates elected. and, why money could rush into apple and netflix in today's trading session. plus, q&a for small business owners. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's tuesday, october 9th. i'm angela miles. in today's first look: there's a while lotta bracing goin' on. traders are awaiting earnings after the close from alcoa for a gauge on corporate america. plus, german chancellor angela merkel ventures to greece, where she will likely be met by a sea of angry people. yesterday in the u.s.: a stock slide on china. stocks and commodies all fell on continued concerns of a slowdown in the chinese economy. and in m&a, principal financial is said to be ready to buy a chilean pension managing company for $1.5 billion. mark sebastian of option pit mentoring joins us now. will some eyes be on europe today mark? > > i think europe's in

spike isn't over yet. abc 7 >> [ yelling] raucous night at the oakland city council meeting where large crowd demanded answers in officer involved shooting. good evening. >> about half of that angry crowd was locked out of tonight oakland city council meeting tlvlt was talk of overflow room but none was made available. abc 7 news reporter was in the thick of it and he's live at oakland city hall for us right now. allen. >>reporter: two weeks ago the same demonstrators forced the city council to cancel their meeting. the plan this time by the city was to limit the seating so that police could control the crowd. city manager decision to close off the balcony for safety purposes setoff the crowd before the meeting even started. with limited seats the overflow crowd refused to watch on tv in a separate room. extra police were called in to guard the doors. l 30. will be no business as usual in oakland until there's justice for. >>reporter: they demand police report on the officer involved shooting death of 18-y

those stories and more in your "morning minute." >>> we have never seen a spike like this.his is just brand-new territory. >> new sticker shock at the pump. gas prices soar past $5 a gallon in the bay area. >> it is even worse than the experts had predicted for some gas stations in the bay area. >>> american airlines canceled dozens of flights as it scrambles to fix its problem with loose seats. >> i spoke to a woman who said she sat in one of those seats and she just doesn't feel safe. >> it was moving. it was just moving. >>> carmageddon san francisco, traffic pocal ypse. avoid san francisco unless you want to be part of the fun. >> what you didn't hear last night from the president is why it is the next four years are going to possibly be better than the last four years. >> he will get rid of regulations on wall street but he is going to crack down on sesame street. >> and a little girl's prayers are answered. a good samaritan reunited her with her puppy. >> i'm just happy that he's safe and he's back. >> from across the bay to around the world, the stories that matter o

oil companies blame a spike in gases prices on hot weather. the exxonmobil refinery in torrence one of the largest in the state lost power monday due to high temperatures. the heat combined with the chevron refinery fire in richmond back in august is increasing prices at the pump. but some drivers aren't buying it. >> the gas companies find any reason they can and if it's going to be the heat, it's just another excuse. >> the wholesale cost shot up more than a dollar in one week and by friday, retail prices could spike by about 30 cents. you can track gas prices in your area on cbssf.com. they just keep going up. >> time to buy a scooter. >> no kidding. >>> weather-wise, we have had two unbelievable days. but you're going to change that aren't you? >> we're going to start to change that. it's kind of nice though. you get these heat waves in the fall and they tend to last a couple of days and then the cool sea breeze kicks n that's what we're expecting for today. outside right now, mostly clear skies, very mild temperatures to start outer day.

and gas jumped as much as 20 cents overnight, with the spike expected to continue. plus, anti-domestic violence leader estra sola on making all violence an issue of global concern, coming up next. >>> good evening, i'm belva davis and welcome to "this week in northern california." on our news panel tonight, dan walters, political column nis for "the sacramento bee." in studio, we have tom vacar, computer editor for ktvu news and josh richman, regional political reporter for the bay asia news group. and joe garofoli, political reporter for "the san francisco chronicle." joe, you were in denver for the first presidential debate. must have been hard covering it, since there were so many people tweeting that night. tell us what's happened since then. how are the candidates -- >> things have really evolved over the last 40 ho8 hours. it was widely perceived that the president did not have a good night. didn't really realize the date is also a show, not just a competition of ideas. but in the intervening 48 hours, been a lot of fact checking, some of the stuff that romney

santa clara, a 10% spike. >> this is good news for property owners. but this is really tough on renters. any chance of prices stabilizing soon? >> a realfacts.com, they say next year we'll slowly see rental prices start decreasing or at least level off at that point. i did talk to the city of san jose about updating their rental control ordinance. the woman says that city officials have not mentioned anything to her about updating that. >> all right, thank you. >>> later in this broadcast, can the giants even the series with st. louis? we'll have the story and look ahead to zito's start tomorrow in game 5: and the 49ers in seattle, san francisco needing a comeback after their debacle against the giants. when i take a picture of this check, it goes straight to the bank. oh. oh look the lion is out! no mommy no! don't worry honey, it only works on checks. deposit checks from your smartphone with chase quickdeposit. just snap a picture, hit send and done. take a step forward and chase what matters. how does it brew such great coffee? well, inside the bre

those stories and more in your "morning minute." >>> we have never seen a spike like this. this is just brand-new territory. >> new sticker shock at the pump. gas prices soar past $5 a gallon in the bay area. ed >> it is even worse than the experts had predicted for some gas stations in the bay area. >>> american airlines canceled dozens of flights as it scrambles to fix its problem with loose seats. >> i spoke to a woman who said she sat in one of those seats and she just doesn't feel safe. >> it was moving. it was just moving. >>> carmageddon san francisco, car-pocalypse. avoid san francisco unless you want to be part of the fun. >> what you didn't hear last night from the president is why it is the next four years are going to possibly be better than the last four years. >> he will get rid of regulations on wall street but he is going to crack down on sesame street. >> and a little girl's prayers are answered. a good samaritan reunited her with her puppy. >> i'm just happy that he's safe and he's back. >> from across the bay to around the world, the stories that matter o

he seemed undeterred by the fact these were golf spikes and that even after i mentioned to him that heiterally be cutting a rug if he wore those things, he bought them any way and unscrewed the spikes and danced up a storm. the floors needed refinishing any way. chris was one of the first people i knew in the prestarbucks era who bought coffee beans and ground them himself. he bought a coffeemaker and set it up. he insisted this was better than the rot gut than in the kitchen. i had to admit, he was right. it was another example of chris showing me how to live in the moment. i laughed when i read senator mccain's recent remarks recalling when chris insisted on personally brewing the senator a proper cup of cappuccino during their meetings in libya. the next topic of material goods would be his donkey, or lack thereof. i love the picture. it reminded me of a priceless letter he sent to me in law school when he was over there in the peace corps. chris wrote wonderful notes and told me when he went running in the village where he was staying, only to have locals come up beside him and say

. >> going to set up spikes at 113. 113. >> conway wants spikes to be set up down the road to deflate davis' tires. by this point, the chase has almost reached the state line. >> does idaho have anyone in the area? >> up ahead, an idaho state policeman lays down the spikes with seconds to spare. >> they're coming. watch out! >> davis runs over the spikes. air escapes rapidly from his tires and he's slowing down. but george davis is not about to give up. somehow, he maneuvers his disabled vehicle to face his pursuers. >> i heard our engine rev up and i knew what deputy conway was going to do. he didn't announce it to me but i could tell he was going to ram him. >> conway rams the ford taurus at close to 60 miles an hour with the officers speeding toward him, davis actually opens his door so he can get a clearer shot, but he misses. as the smoke clears, deputy conway's okay but hildenstab, whose seat belt is broken, is thrown into the windshield. >> it had blinded me. when i tried to open my eyes, i had all kinds of glass shards and stuff in my eyes. >> stay down! stay down! >> hildenst

you see prices spike up, i think you'll continue to see u.s. retailers doing well, those that offer some form of units to the consumer, those that have a strong internet offer, those that offer freshness per se are doing quite well. i think at the lower end much the spectrum still inflation is relatively high. i think the lower end retailers are struggling a bit. you've seen more recently the likes of the dollar stores are doing well all year. those consumer, capacigas is a bigger part of their income. >> let me go to a completely different sector, banking in china. icbc says its q3 net profit was 62.4 bell i don't know yo billi. so numbers beating expectations. this might make you chuckle. the n.r at the end of september just 0.8%. given the numbers nunling up around that 9% mark, huge divergence on the loan portfolio. as we come up to year end and there's increased spending, one company that's been getting a larger slice of the action has been amazon. you're not imagining all those delivery trucks are running around town either. isn't there a

california's dramatic spike is being blamed on several refineries and pipeline problems. many skeptical drivers say the explanations for the high prices is bogus. even california senator barbara boxer is calling for an investigation. >> we want to make sure there is no manipulation going on. >> oil experts say drivers can blame california's tough air quality regulations. governor jerry brown has ordered another blend appeal to be released early. don't expect to see a dramatic drop in prices soon. experts say could be another week before california drivers finally see any relief. >> the national average for gas is now $3.81. the lowest prices are in virginia. >> why parents at a local school might have to pay rent to use their children's classroom. >> amtrak trains stop moving right at the height of the noon rush hour. take away his toys and he'll play with a stick. take away their bikes and they'll still find a way to get where they're going. but take you away early childhood education... slash k-12 funding... and cut college aid for middle class families ... they won't g

and now they're spiking up again. so, we don't have this under control and it needs to become under control. we think that that will happen by election day or by thanksgiving. >> election day or thanksgiving. okay. and so is that when we will start seeing some relief? or late least you hope we'll see relief, john. >> we have been wrong about this all year long. this has been an uncertainty year. we saw spikes when we thought prices were declining and when they declining, we have seen the vice-versas. so it's really strange out there now and anything can happen, but we're going to go on record saying we think the prices will decline the next four weeks or so or by thanksgiving. >> if not, we're going to have you back in here and talk to but that. >> you should. and beat me with many strikes. it's the third time this year we got it wrong. >> no, i mean -- . >> and that is how volatile the market is. >> i understand. >> and it's always great to see you. >> thank you. >> it's painful to hear what it costs to fill up your

what is in the shake, spike?l mushrooms you find in the stores, roast them and then we just mix when this a little pumpkin puree, a little bit of milk, blend them up. >> really yummy. >> a great seasonal pear salad. >> spike mendelssohn, thank you so much. "life after top chef" wedges nights at 10. >> coming up, barry manilow. [ male announcer ] connoisseurs of flavor. experts in aroma. they're the world championship cheese judges. [ air horn blowing ] and while they might seem kind of odd to you -- like this guy -- we just love them. and at the 2012 championship, they awarded cracker barrel gold for cheddar for its rich, full flavor. thanks cheese geniuses. cracker barrel. it's cheddar, perfected. thanks cheese geniuses. as a pastor, my support for question 6 is rooted in my belief that the government should treat everyone equally. i would not want someone denying my rights based upon their religious views, therefore i should not deny others based upon mine. it's about fairness. this law does not force any churc

san jose drivers will pay $4.37. >>> police saw a drop in home burglaries after a spike in august. the number of break ins last month was 14. that compairs to 28 in august. -- compares to 28 in august. >>> thousands of federal workers will undergo training to spot and stop human sex traffickers, 55,000 will go through special training. it is due to growing concerns the government is losing the war against traffickers. >> so many cases, how widespread is this problem? >> i think it is very widespread and it is widespread because it can be a hidden crime. >> the national human trafficking resource center says since april they received 40 calls about cases in san francisco. and 18 calls from oakland. >>> homeless advocates hosted a voter registration drive today. they were encouraged to join the process and register to vote. she says the voting drive helps educate people about their rights and let's them know -- lets them know they don't have to have a home to vote. >> it is important for every voice to be heard and a lot of individuals are expected most by policy decisions. >> newly

cbs 5 reporter, len es >>> gasoline prices are spiking all across the bay area. they're up $0.10 to $0.40 in the past couple days. why the pump prizes are rising, as oil prices are going down. >> reporter: it was just last week when drivers were paying $3.95 a gallon. today the same gas up $0.30 to $0.40 more. >> i don't understand the big jumps. >> reporter: tom robinson says prices could go up another $0.50 a gallon before it's over. and it's only happening here. >> this really appears to be just a west coast phenom, primarily california. you have low inventories and refinery problems. >> reporter: a chevron fire was just the beginning. a power failure in torrance have cut supplies. the low inventories caught a lot of distributors empty-handed. now it's the drivers who are running on empty. >> i might get maybe a quarter-tank on $20. >> reporter: crude prices, ironically, are dropping. >> when you see something that's going on right now that's related to supply issues, refinery problems, what happens as soon as the problems get resolved and they tend to happen

by friday, retail prices could spike 30 cents. if it keeps up, station owners will have to sell it at $4.75 a gallon to break even. 12 miles to the gallon in the city. blaming high gas prices on the heat is farfetched. >> the gas companies find any reason they can. it's going to be the heat. just another excuse. >> reporter: and the gas experts say if california doesn't pick up production and crank out more gas soon, we could see, worse case scenario, $5 gas. you can check out cbssf.com/gas. live in san jose, cbs 5. >>> well, they were trying to head off another disruptive demonstration. oakland city leaders gave protesters another reason to cut loose. cbs 5 reporter was there. kristen, what happened this time? >> well tonight, dozen of protesters were locked outside of the city council chambers as the meeting went on tonight. they were there to protest the death of an oakland teen who was shot by police. but they say tonight, their rights to free speech were crushed. chaos outside the council chamber. 50 protesters locked outside

that should come off with this spike in oil prices coming off. >> first thing is all of you viewers out there, i want you to do this. give yourself a pat on the back. 1.42% coming from consumer spending. that is you spending more helping the economy. uncle sam is proud. >> at least 50% me alone. >> half-way there. second thing though, defense. .7. unsustainable especially if we get sequestration. >> that's a very good point. no doubt that defense is going to come off. it had been down for three straight quarters. government is not going to contribute 0.7% of that 2% again. however, what could happen is, if we were to get a resolution in the fiscal cliff -- i say conditional future, "if" we were -- you might see this business investment number tick up so they could offset a little bit. >> let's bring someone else into this conversation. just how big of a threat is inflation? andy brenner, head of international fixed income and national alliance securities capital markets group. what a title, sir! what a topic. how do you think about inflation right now? how much of a threat is it? >> i t

. >> watching gas prices the of seen a major spike. we have a bit of a shortage going on in california. gas prices in the bay area are spiking day after day. it is fo59--a $4.59 a gallon. the august 6th fire at the chevron refinery it left one of our largest refineries producing at partial capacity. we have a chevron pipeline that moves crude oil and northern california that has been shut down. it is up a dollar a gallon for crude oil, that is what the cassations pay for. expect the prices to continue to raise. >> albany's police chief... >> even though the teacher has committed suicide the case will move forward. a lot of people are still angry at the police department for him being arrested. they swear the police department made a mistake when arrested james is in the psych. he is 28 and ht albany middle school for a while. he was found inside a car earlier this week. there was a note but they're not releasing what he wrote in that note. >> is 7:08 a.m. here is a i moved to new york to work in fashion. i came here with just and lucki

. >> and it's played by spiking it and to make the rattle sound and also creates this. (applause). >> (speaking spanish) sorry. (speaking spanish). >> this is the kahita and it is created as the -- i don't know that word. how do you say that? the piggy bank. you know where the boxes and the churches collect money? yeah. this is the original he here. yeah. >> (speaking spanish) (laughing) (speaking spanish). >> this instrument is called c carete and with the right hand and the left hand and open and shuts in a rhythmic time. >> (speaking spanish). >> so this instrument is called sen sero but it's actually a cow bell. >> (moo). >> it was made out of material. >> (speaking spanish). >> but for the african and any instrument that create a rhythm or a sound will become an instrument. (speaking spanish) (applause). >> (speaking spanish). >> these are the spanish influences. >> (speaking spanish). >> they adapted to the style of this type of music (applause). >> (speaking spanish). >> these are just simple spoons, kitchen spoons. (applause). >> (speaking spanish). >> and here

wait. 20 to 30 cent spike in prices ov the next few ys. hat's onop of keep inind e soaring pris we have en since thehevron refineryire on august 6. lisa is looking that this for us tonight and live with some surprising answers as to why. >>reporter: that is very true. i am here in palo alto tonight where at this pacic ga station the price regular gas shot up 24 cents since yeerday. and it will only get worse. gas prices shot up today. and according to petroleum analyst gas buddy.com the spike is california specific. they blame low fuel production on august she have respect refinery fire in richmo, igh prsure in tonsower surge at exx mobile and maintenance on crude oil pipe in southern california >> all of these refinery issues coming together at the same time l essentially the perfect storm if you will. >>reporter: pricey storm gas buddy.com says is driving up wholesale gas prices for retailers. who are then raising prices at the pump. >> there is not a shortage per se. there is more a perception of shortages. >>reporter: it was price and

brace your wallets. >> we have never seen a spike like this. this is new territory. >> reporter: mike has to sell regular unleaded at $4.89 a gallon just to stay afloat. he locked up the pumps because it looked like he was gouging customers. >> i can't afford to pay bills right now. >> reporter: in the bay area prices are up 20 to 30 cents. it's cost the business an extra $700 this week. >> as a person that's in the middle class it's very hard to try to save and have a family in the bay area and keep paying these prices. >> reporter: and so we've called coast of the costcos. looks like serve doing okay for now. but analystst are saying the price should peak by about saturday on sunday sox that means it's still going up. >> yeah, that's $4.89 a gallon over his shoulder. go to cbssf.com/gas. just enter your zip code. >>> later on, a good reason to gas up if you're driving into san francisco this weekend. that story coming up in about 10 minutes. >> american airlines is grounding flights across the country to fix the seating problem on its 757s. e

how has this s-- spike in prices impacted? >> they have said that there has been no impact.nd 21 pevehlthe country and how the debate from last week is bringing mitt romney in the polls. >> the that the pipeline explosion in san bruno but but state lawmakers are explosion [ laughter ] but [ girl ] wow. you guys have it easy. i wish i had u-verse when i was your age. in my day, we didn't have these fancy wireless receivers. blah, blah, blah. if i had a sleepover, i couldn't just move the tv into the playroom. no, we had to watch movies in the den because that's where the tv outlet was. and if dad was snoring on the couch, we muscled through it. is she for real? your generation has it made. [ male announcer ] the wireless receiver. only from at&t u-verse. get a free wireless receiver with a qualifying u-verse plan. rethink possible. and endless salad bar for $11.99. add in seasonal salads, soups, and sweet treats. sizzler. mu >> the president is in san francisco in fund raising. and gop challenger is going after mr. obama's foreign policy record. as we get closer to the electi

. >>> a spike at the pump. the increase and what's beyond it. >> the chase that led deputies through two cities in just the last hour. dan hurd: when i was a child, california was a leader in education funding. erika derry: and the fact that california isn't making it a priority frustrates me. dan hurd: i'm ashamed of that, and i don't want this to continue for my daughter. brenda kealing: prop 38 is going to bring a lot of money to our schools. suzan solomon: the money stays at the school site. cade derry: what i would really like to see is that the teachers... that were laid off come back to the school. navaz hurd: a smaller class size. navaz hurd: as a mom i want that. as a teacher i want that. prop 38 is an opportunity of a generation. >>> developing news now, a wild chase in the east bay in just the past hour. alameda county sheriff's deputies chased a woman from san leandro to oakland entirely on east 14th. she went through one red light after the other. our cameras caught the chase on 14th. when she got

sprint had a spike on its news. nikkei saying softbank to acquire pcs. >>> up next, more on our huge exclusive. listen to what erskine bowles had to say about the anger politicians are about to see up close. >> people are never going to understand how critical this particular time in history is. we have 7.7 trillion -- trillion -- dollars worth of economic events that are going to hit america in the gut in december. and in washington, they're doing nothing about it! nothing about it! we should be asking these guys running for president and every guy running for congress -- what are you going to do? >> it is a really good question. right? what are they going to do? we will find out -- next. >>> let's continue the discussion now around our exclusive interview with lloyd blankfein, erskine bowles and alan simpson. even though there is a lot of concern about the fiscal situation, the goldman ceo seems very pro-america. >> the united states i think actually has some of the greatest blessings around, except that -- look.