Moody’s Chief Economist: We Probably Won't See Lower Oil, Gas Prices 'Until This Time Next Year'

During a portion of an interview with CBS aired on Monday's edition of "CBS Evening News," Moody's Analytics Chief Economist Mark Zandi predicted that the price of gas and the price of oil will not get lower "until towards the end of the year," and "probably not until this time next year." And that high gas prices mean that costs are rising for any goods that have to be shipped, including food at the grocery store.