Tuesday, January 3, 2012

Analysts Predict Five Dollars a Gallon for Gas in 2012


We have seen $3.00/gallon of gas during the Bush Administration and people were upset. It took Bush an executive order to see the price of gas drop. Now, under 3 years of an Obama Administration, the price of gas remain in the $3.00 range, and no one is complaining. Because Obama vetoed the Keystone Pipeline, Obama is deliberately destroying jobs and making America dependent on foreign oil. Why would Obama delay a project that will bring up to 830,000 barrels of oil per day to U.S. refineries? Why would Obama delay a project that will create 20,000 U.S. jobs during the 1,700-mile pipeline's construction phase alone? You make your own conclusion.

(CBS) BALTIMORE (WJZ) — Five dollars a gallon for gas? Analysts say it could happen this year.

Monique Griego has more on why gas prices could soon explode.

Just this weekend, the president signed new sanctions against the country of Iran. Now, Iran is firing back with a threat that could send gas prices higher than ever.

Prices at the pump already have drivers in pain.

But if Iran follows through on a threat to shut down one of the world’s most important oil routes, analysts say prices here could skyrocket by summer.

n just the past week, gas prices have gone up nearly seven cents and there is no sign of them coming down any time soon.

According to AAA, the average for a gallon of regular is $3.25, compared to $3.07 this time last year.

Horrigan, who’s with the Mid-Atlantic Petroleum Distributors’ Association, says he won’t go as far as five dollars a gallon, but does expect prices to go up.