JUDY WOODRUFF: Oil prices fell back some today from Friday's record run-up, but gasoline kept right on rising. The national average price of regular gas topped $4 Sunday for the first time.
Today, the AAA auto association reported that it reached $4.02 a gallon, with the prospect of still higher prices to come.
Crude oil slipped more than $4 to close closer to $134 a barrel, as profit-taking set in. Last Friday, oil had shot up nearly $11.
President Bush acknowledged growing public concern about energy as he left on a trip to Europe.
GEORGE W. BUSH, president of the United States: A lot of Americans are concerned about our economy. I can understand why. Gasoline prices are high; energy prices are high.
We'll remind our friends and allies overseas that we're all too dependent on hydrocarbons, and we must work to advance the technologies to help us become less dependent on hydrocarbons.
JUDY WOODRUFF: The president also called again for Congress to permit oil drilling in the Arctic and offshore.
But in Raleigh, N.C., Democratic presidential candidate Barack Obama argued there's a far more immediate solution.
SEN. BARACK OBAMA (D), Ill.: You don't have to read the stock tickers or scan the headlines in the financial sections to understand the seriousness of the situation we're in right now.
I'll make oil companies like Exxon pay a tax on their windfall profits, and we'll use the money to help families pay for their skyrocketing energy costs and other bills.
JUDY WOODRUFF: By contrast, Obama charged Republican John McCain wants to let oil companies have huge tax breaks.
At his own event in Richmond, Va., McCain again played up his call for suspending the federal gas tax. He said, quote, "Talk to somebody who owns a couple of trucks. They say it matters."
High fuel prices sparked new protests in Europe today. Truckers went on strike in Spain and blocked major roads into Madrid and Barcelona. They also caused traffic jams at border crossings into France. The truckers demanded government compensation to help them stay in business.
Saudi Arabia announced today that it wants a summit of oil-producing states and consuming states in the near future. The information minister said the Saudi government opposes, quote, "unwarranted and unnatural" price increases. He said, quote, "There is no justification for the current rise in prices."
Severe weather covered much of the U.S. today, from flooding in the Midwest to intense heat in the East. Authorities reported at least 10 deaths.
In the Midwest, heavy weekend storms sent rivers rising and triggered emergencies in Indiana, Iowa and Wisconsin. Several homes were swept away north of Madison, Wisconsin, when high water flowed over an earthen dam. Evacuations were also underway.
Governor Jim Doyle got a firsthand look today.
GOV. JIM DOYLE (D), Wisc.: ... we draw a line across the center of Wisconsin, and every county south of it we have declared an emergency. And this is a storm that moved right -- you know, you can watch it, but, from the Mississippi to Lake Michigan, it moved across the southern part of the state.
JUDY WOODRUFF: More heavy rain was forecast across the region in the coming days.
Meanwhile, triple-digit temperatures scorched most of the East Coast today. Heat advisories were posted from Connecticut down to the Carolinas.
China sent in more troops today to drain a swollen lake, formed when last month's earthquake blocked a river. They used explosives and antitank weapons to blast away clogged debris. The goal is to bring down the water level before the earthen barrier holding back the water gives way.
New aftershocks today raised concerns even higher. More than a million people could be flooded out if the lake bursts.
The supreme leader of Iran flatly rejected any long-term U.S. security pact with Iraq today. Ayatollah Ali Khamenei met with the visiting Iraqi prime minister, Nouri al-Maliki. The Iranian warned it is the presence of U.S. troops that is causing Iraq's troubles. During Maliki's visit, Iraq and Iran agreed to increase their own defense cooperation.
Sen. Edward Kennedy returned home today after brain cancer surgery last week. He left Duke University Medical Center in North Carolina and flew back to Cape Cod, Massachusetts. He told reporters, "It's good to be home." In a statement, his office said that doctors are pleased with Kennedy's progress.
An openly gay bishop who has caused tumult in the world Anglican church entered into a civil union over the weekend. Episcopal Bishop Gene Robinson had a private ceremony with his long-time partner in New Hampshire. It came just before a worldwide Anglican conference next month.
The FBI today reported that crime in the U.S. was down last year. Violent acts, including murder and rape, fell nearly 1.5 percent. Property crimes fell more than 2 percent, the largest in four years. The only region reporting an increase in crime was the South.
Wall Street tried to recoup some of its losses today after the beating it took last Friday. The Dow Jones industrial average gained 70 points to close at 12,280. But the Nasdaq fell again -- 15 points -- to close at 2,459.
