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Disco's Bitch

Registered: Nov 2003
Location: The Streets Of A New World Order

Expert: $4 a gallon gasoline coming soon

Expert: $4 a gallon gasoline coming soon


Pricing analyst says consumers can expect even higher prices at the pump.
August 31, 2005: 10:40 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 in the near future, a pricing analyst 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.

He expects consumers in the Southeast and Northeast to be pinched first, following the impact of Hurricane Katrina on the Gulf Coast region.

Katrina forced operators to close more than a tenth of the country's refining capacity and a quarter of its oil production, which sent gasoline prices surging.

The nationwide average price for a gallon of regular unleaded hit a fresh high of $2.619 Wednesday, according to AAA, the largest U.S. motorist organization, formerly known as the American Automobile Association.

Average gasoline prices have gained 40 percent in the last year.

Prices for crude oil are also up sharply and are currently hovering near record highs just under $70 a barrel.



Old Post 08-31-2005 11:43 AM
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The Iron Monkey
Disco's Bitch

Registered: Apr 2005
Location: Baltimore,MD, USA

The stations in my area are on gas allocation now. Get ready to see some stations out of gas on occasion.


Old Post 08-31-2005 11:49 AM
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Disco's Bitch

Registered: Mar 2002
Location: asheville

asheville will be completely out of gasoline by the end of the day today.. and the 'stoppage' as they're calling it, is expected to last through the end of the week.


Old Post 08-31-2005 11:55 AM
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Disco's Bitch

Registered: Apr 2002
Location: Monroe, LA

There's already a few places in monroe running out.


Old Post 08-31-2005 11:57 AM
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Disco's Bitch

Registered: Mar 2002
Location: south florida

shit. thankfully i drive a tiny VW and live just a few miles from work...


Old Post 08-31-2005 12:11 PM
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Disco's Bitch

Registered: Jul 2004
Location: Fat City

just like in europe is a world wide epidmic


Old Post 08-31-2005 12:13 PM
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