Gas to be 3.40 per gallon this spring says U.S.Dept.of Energy

[Algorem]

Higher gasoline prices forecast for spring

http://blog.cleveland.com/business/2008/02/_high_heating_bills_have.html

Posted by John Funk February 12, 2008 16:06PM
Categories: Breaking News, Energy


You can expect to pay higher prices for gasoline this spring. And probably more for natural gas next winter.

The U.S. Department of Energy's statistical division, the Energy Information Administration, today predicted that the average price of gasoline will stay well over $3 per gallon this year -- and peak sometime this spring with an monthly average price of $3.40 per gallon...


On the plus side, the agency predicted global oil supplies will smooth out over the next two years because of new producing fields and a projected slowdown in the growth of demand because of a global economic slowdown.

A cut in OPEC production to keep prices up or stronger than expected economic growth could quickly change that prediction, the agency cautioned.

[Jackpine Radical]

1. Kinda like a good news/bad news joke.

The bad news is that food is going to be unaffordable. The good news is we're all gonna die and won't need it.

[brystheguy]

2. That's why my 1975 Corvette is on Ebay right now.

I've had that as a hobby car and I figured with gas prices rising the way they are, it's time to sell.

I don't want to be stuck with some dinosaur when gas reaches $8.00 a gallon a few years down the line. Anyway, my new hobby? Old school vintage mopeds with pedals!

[CountAllVotes]

3. It is already $3.44 a gallon where I live

God only knows what it will be "in the spring". :mad:

:kick:

[GliderGuider]

4. Global oil supplies will smooth out due to a global economic slowdown.

What a relief! At last some demand destruction...

[1620rock]

5. Bicycle lanes on a massive scale beginning now.