Gas Outlook: ‘Most Painful Year At Pump Ever’

[Purveyor]

CHICAGO (CBS) — Gasoline prices could approach $5 a gallon by Memorial Day and stay a record levels for much of the summer, according to a forecast by GasBuddy.com.

Gas prices always spike in the summer, but the 2012 Gasbuddy.com Price Outlook predicts this summer will break records.

“It looks like it might be the most painful year at the pump that we have ever seen,” senior analyst Patrick DeHaan said.

By Memorial Day, gasoline in the Chicago area could rise to between $4.60 and $4.95 a gallon–more than a dollar above the current average.

MORE...

http://chicago.cbslocal.com/2012/01/13/gas-outlook-most-painful-year-at-pump-ever/

[Fumesucker]

1. I was just thinking that the economy is looking like it might crawl off the deathbed..

Which means of course that gas prices are going to go up.

Shocked, I tell ya'.

[Purveyor]

2. Nothing would please the Presidents foes, both foreign and domestic, more than to have a summer of

$5+ gasoline.

[Proud Liberal Dem]

4. Yeah

and then $4-5 is going to likely depress the economy (or keep its growth down at the least). We were dealing with $2/gal gas for awhile there, during this past year, we've been living with pretty consistently $3/gal gas. Now, they're talking $4-5/gal gas. And yet all this while, there's been little to no push for increasing fuel efficiencies, improving public transportation, etc. What's wrong with this picture?

[TransitJohn]

3. Well of course, it's an election year.

It's always record breaking prices in such circumstances. That Houston oil money is in the tank for the GOP.

[FarLeftFist]

5. Corporate sabotage!

[txlibdem]

6. Don't worry. The invisible hand of the market will correct the problem by Labor Day.

Have no fear. Capitalism is here!

[madrchsod]

7. that will finish off any rebound just in time for the election!

funny how things work out that way.