Posted on 02/29/2012 10:18:30 PM PST by Nachum
Houston - Gasoline for $5 a gallon? The possibility is hardly far-fetched. With no clear end to tensions with Iran and Syria and rising demand from countries like China, gas prices are already at record highs for the winter months averaging $4.32 in California and $3.73 a gallon nationally on Wednesday, according to AAAs Daily Fuel Gauge Report. As summer approaches, demand for gasoline rises, typically pushing prices up around 20 cents a gallon. And gas prices could rise another 50 cents a gallon or more, analysts say, if the diplomatic and economic standoff over Irans nuclear ambitions escalates
(Excerpt) Read more at nytimes.com ...
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