Experts: $4 a gallon gas coming soon

Money Magazine - CNN ^ | August 31, 2005 | Grace Wong

[ContemptofCourt]

Pricing analysts say consumers can expect even higher prices at the pump.

August 31, 2005: 11:18 AM EDT

By Grace Wong, CNN/Money staff writer

NEW YORK (CNN/Money) - Consumers can expect retail gas prices to rise to $4 a gallon soon but whether they stay there depends on the long-term damage to oil facilities from Hurricane Katrina, oil and gas analysts said Wednesday.

"There's no question gas will hit $4 a gallon," Ben Brockwell, director of pricing at the Oil Price Information Service, said. "The question is how high will it go and how long will it last?"

OPIS tracks wholesale and retail oil prices and provides pricing information for AAA's daily reports on fuel prices.

Brockwell said with gasoline prices now exceeding $3 a gallon before even reaching the wholesale level, it "doesn't take a genius" to expect retail prices to hit $4 a gallon soon.

"Consumers haven't seen the worst of it yet," Brockwell said.

[ContemptofCourt]

Hear that screeching sound? That's the economy....

And we haven't even hit winter yet. Heating bils are going to suck this year.

[MichaelP]

GD profiteering!

Mike

[newgeezer]

ping

[Bombardier]

Move on....nothing to see, no gouging here. /sarc

[Icthus]

I work for a municipality in the FL panhandle and was notified this morning that our next fuel purchase would cost us $3.37/gal. and that we should expect a 30-45 day delay before our next delivery.

[The Foolkiller]

pinging all cars.

[Protagoras]

GD profiteering!

What does GD stand for?

And who are the profiteers?

[InterceptPoint]

This is not all bad news. The good news is that Barbra Streisand will be able to get into Yosemite a lot easier than when gas was cheap.

[kellynla]

millions of Americans in the Gulf are homeless and hundreds of thousands of Americans are fighting and some are dying in Iraq & Afghanistan and all many FReepers are concerned about are their heating bills and gas prices...
shezzzzzz... what a sacrifice!

[Terabitten]

Makes you wonder what it's gonna take to get the gov't to a) drop the taxes and b)get refineries built.

[Protagoras]

Move on....nothing to see, no gouging here. /sarc

Name the gougers please.

[carlr]

Greenspan,did you hear.Enough of the interest rate hikes.

[frogjerk]

[Texas_Jarhead]

"$4 a gallon gas coming soon..."

Yea, well at least we haven't been drilling in ANWR for the last decade, destroying its pristine beauty.

[bella1]

Gas is $3.50 in my town

[auto power]

.....there goes our raises....start pinching pennies folks.

[Alberta's Child]

I don't think the price of gasoline could be sustained at $4 per gallon. In fact, $3 per gallon is when I would change my driving habits dramatically.

Up to now, I've steadfastly refused to fill up for anything more than $2.59 per gallon.

[Gabz]

And we haven't even hit winter yet. Heating bils are going to suck this year.

Tell me about it - I called yesterday for a delivery of fuel oil. She quoted me $2.4435.......but offered no guarantee that it would still be that when it gets delivered today.

[Alien Gunfighter]

Gonna cost who? I'll ride my bike to work.

Leftist weenies don't realize that it's more than just cars. Freight shipping and tractor trailers that deliver patchouli oil and Michael Moore DVDs also run on gasoline. Prices are going to go up everywhere.

[Clemenza]

Another reason why those folks who commute more than 25 miles to work are insane.