Forecast: $4 gasoline will be here awhile

[unhappycamper]

Forecast: $4 gasoline will be here awhile
By Matt Millham, Stars and Stripes
European edition, Friday, June 13, 2008

Like it or not, $4 gas will be around for a while.

The U.S. Energy Information Administration delivered that bit of bad news this week in a report that forecasts tight supplies and high prices throughout the rest of 2008, despite waning U.S. demand.

The report, EIA’s monthly Short-Term Energy Outlook, came less than three weeks after it released a study that said drilling in the Arctic National Wildlife Refuge would not likely diminish the current oil crisis.

The administration, an independent analytical arm of the Energy Department, expects regular gas to average about $3.78 a gallon for the year. That is 97 cents more than in 2007. So far, a gallon has averaged about $3.37 in 2008. The current U.S. average is nearly $4.04. In order to match the EIA forecast, U.S. gas prices will have to average about $4.10 a gallon through the rest of the year.

Gas prices jumped more than 6 cents per gallon from June 2 to Monday, according to the EIA, on which Army and Air Force Exchange Service fuel prices are based. The American Automobile Association’s Daily Fuel Gauge Report pegged the national average for regular at $4.06 Thursday — another record.


Rest of article at: http://www.stripes.com/article.asp?section=104&article=55498



uhc comment: If fuckwad decides to bomb Iran, $4 gas will be a fond memory.

[liberal N proud]

1. Like, permanently

$4.00 or higher.