CHETRY: Welcome back, 17 minutes past the hour. Soaring oil prices pushing Saudi Arabia to boost production. We have Gerri Willis today in for Ali Velshi. Will we eventually see that in the form of lower gas?</s>GERRI WILLIS, PERSONAL FINANCE EDITOR: What is that song, dream, dream, dream? All right. Let's start with the prices first because that's what everybody cares about, right? AAA reporting a new high for gas prices, $4.08 a gallon. Ouch. It's the ninth straight increase, and it's a new high oil prices per barrel. Not a high here at $134.86. That was Friday settled. That's where they are trading this morning, but nobody likes that number. Way too high. As a matter of fact, Saudi Arabia is thinking it's so high that they are boosting production by 200,000 barrels a day. Now you might think that sounds like a big number but in reality it's just two percent of their total daily production. And the world consumes 84 million barrel as day so you can see that's really a small percentage. That's the second production hike the Saudis have put in place in the last few months. Apparently according to U.N. Secretary General Ban Ki-moon, he says the Saudis are saying that they don't believe that these current prices are normal and that they are concerned that production -- increasing production won't go far enough maybe in the end to actually bring down prices. They're worried that ultimately they're going to hurt global demand.</s>CHETRY: All right. Gerri Willis, we'll see you throughout the morning. Thanks for being with us.</s>WILLIS: My pleasure.</s>ROBERTS: Thank you, Gerri. Good morning, good to see you. Iowa under water. Many cities and towns hit with devastating floods and the worst may not be over yet. Also, Great Britain's decision to cut the number of British troops in Iraq. What does it mean for America's men on the front line? We're live in Baghdad. You're watching the "Most News in the Morning."
Will the Saudi Oil Boost Bring High Prices Down?