Gas Prices May Rise Above $3 A Gallon, Again
March 23rd, 2010 - 8:31 pm ICT by Angela Kaye Mason
Mar 23 (THAINDIAN NEWS) As the price of crude oil is still lingering above the $80 a barrel mark, customers are feeling the tug on their wallets. The price per barrel along with the upcoming summer means peak driving times and Americans could experience de ja vu with an average of at least three dollars per gallon at the pump.
“We think it’s fairly likely the U.S. could average $3 a gallon some time this spring or summer,” said Doug MacIntyre, an oil analyst with the Energy Information Administration, the statistical arm of the U.S. Department of Energy. It is not really that far off as it is. In the bugger cities of Illinois, it would only take a 9 cent per gallon jump to reach this prediction, and in places like Iowa, it would take 20+ cents per gallon.
According to St. Ambrose University economist Greg Bereskin, an energy expert, it is very normal for gas prices to climb this time of year, since families are known to be traveling during the summer vacation. The seasonal demand is said to be the reason for the increase, and gas station owners will, of course, raise prices at a time when they know more people will be buying their product. It is still believed, however, that the main reason for the increase will be the price of oil. MacIntyre does not seem to think it will be as bad as last year. “It is our belief they won’t let prices go as high as July 2008,” he said.
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