Gas Prices Expected to Reach $5 By Summer

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POSTED: Monday, February 20, 2012 - 3:04pm

UPDATED: Tuesday, February 21, 2012 - 8:33am

What a horrible sight to see, not very many people get a kick out of seeing that blinking light or the gas gage teetering on the empty line because that means another trip to the gas station, another punch to the old pocketbook.

Gas prices right now in the lower valley sit between $3.43 and $3.45.

“The prices are supposed to be lower but they're going up too high; I can't almost drive anywhere, because of the gas prices," says a concerned driver.

Experts say that crude oil has spiked to a nine-month high, driven by international uncertainty in Iran and Europe.

"It's too high, I'm gonna put $25 now and I'm gonna use two it in two or three (days) and run downtown and my gas is down," says the driver of an SUV.

So with the demand for oil, prices jump, and you the driver are forced to pay.

"I need (it) down a little bit," says the driver of the SUV.

Unfortunately, it doesn’t look like it’s going to drop anytime soon. If paying $3.45 for a gallon of regular unleaded is already putting a hurting on your pocketbook, you’re really going to feel the pain when prices are expected to drastically jump this summer.

Five bucks a gallon, that's what experts are predicting as early as the summer of 2012.

So there's not a real perfect solution here, you want to drive, you’ve got to get around, you have to dish out the green to fill up that tank, but some drivers are considering adjusting their driving habits in the wake of the gas price spike.

"Instead of making two or three trips you're going to have to be able to come around and say, “you know what, I’m going to have to buy my groceries, do this, do that, and make it all one big trip and try to keep things closer together," says a driver.

According to AAA, the price of gas has increased 16% in the past year.
 

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