Saturday, February 18, 2012

Gas prices begin climb toward $4.50 a gallon, experts say

Gas prices could hit $4.50 a gallon nationwide by summer because of sanctions on Iran, a frigid winter in Europe, and logistical challenges in the US. The current all-time high is $4.11.

Christian Science Monitor

New York

Many drivers are already grumbling at gas prices this winter. But by this summer, Friday's AAA average of $3.58 a gallon for regular gasoline may look downright attractive.

Some energy analysts think gasoline on a national basis could climb into the $4.50 a gallon range. That would be above the all-time peak of $4.11 a gallon set on July 14, 2008. In some states such as California, Hawaii, and Alaska, prices are normally higher and could get closer to $5 a gallon.

“We are on track for a very expensive summer,” says Sander Cohan, a gasoline-market analyst and principal at Energy Security Analysis, Inc. in Wakefield, Mass...[Full Article]

Labels: , ,


Post a Comment

Subscribe to Post Comments [Atom]

<< Home

This page is powered by Blogger. Isn't yours?

Subscribe to Posts [Atom]