Video: Pump pain: Why gas prices are rising

>> host of " mad money ."

>> good morning.

>> is there anything to avoid $5 by memorial day ?

>> only if iran stops this nuclear program.

>> iran accounts for 2.5% of the worl's oil exports . why is it having such a big impact on the u.s. price of gas .

>> they are a gigantic exporter to europe . they take away from ours. there is not a lot of excess supply now.

>> what about the options for the administration? republicans are starting to make gas prices a campaign issue. one suggestion made by a former adviser to president obama said what about compensating people when gas prices go up? he had a proposal for that. could it help?

>> congress is in no mood to give that kind of tax break after all the wrangling. the only thing i can see is a radical use of natural gas for surface fuel. the president endorsed it in january. it's got to be for trucks. they are the big users of imported oil.

>> barring that impact on the economy with the rising gas prices .

>> we are probably going to $5 if the trajectory continues for the price of oil . you can figure every $10 increase in the barrel translates to 25 cents at the pump.

>> we have to look at what happened overnight regarding greece. europe finally agreed to a new bailout.

>> right.

>> this to prevent bankruptcy. could it have a positive impact for the u.s. economy ?

>> yes. not as positive as the negative of higher gasoline prices but this helps the stock market . the worries of europe are going away.

>> meantime you mentioned the stock market . on friday it was a big day for people who are investors. is this good only for rich people or is this good for all americans?

>> 90 million households own stock either through iras or 401(k)s. any increase helps consumer spending .

>> did investors who are rich win or did everyone win?

>> i think if you're saving and using any part of the stock market you're a winner.

>> jim, thank you for your perspective.

>> thank you.

>> it's a pleasure to talk to you. catch jim on " mad money " weeknights at 6:00 and 11:00 eastern time on

Source: http://video.today.msnbc.msn.com/today/46462658/

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