Posted on 02/15/2012 3:59:27 AM PST by tobyhill
While the cost of a gallon of gasoline could possibly touch $5 for the first time this summer, at least two commodity pundits said Tuesday it’s more likely that prices will remain closer to $4 a gallon.
With oil prices on the rise and the U.S. summer driving season approaching, talk of higher prices at the pump has been buzzing commodity trading pits, said Phil Flynn of PFG Best.
Traditionally, gasoline prices hit their loftiest levels around Memorial Day and the Fourth of July holiday weekends — a time of peak travel demand.
Flynn conceded he’s heard talk of $5 a gallon gasoline this year but said he’s not sure if retail prices will reach that level.
(Excerpt) Read more at marketwatch.com ...
I don’t think it is the Lamesteam Media any more. With what has been happening in the last few months. I prefer to call it The Ministry of Propaganda.
Add to the $4+ per gallon gasoline the real possibility of rolling blackouts this summer as a result of the EPA shutting down some 20 power plants. Of course Obama and the MSM will try to blame Bush and evil big oil. I hope the GOP sticks it to Obama for canceling the XL pipeline, banning drilling in the Gulf and elsewhere and an EPA gone wild.
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