$4.60 Per Gallon For Gas?

CHICAGO (CBS) — Spring will be around the corner before we know it, and demand for gasoline will be going up.

As CBS 2’s Kris Habermehl reports, a new published report says we need to get ready for wild swings in the price at the pump.

Tom Kloza of the Oil Price Information Service tells the Chicago Sun-Times that we should expect a spring of wild fluctuation. Kloza tells the Sun-Times’ Gary Strauss that averages are likely to peak at $4.05 nationally, but climb higher in Chicago and many other cities.

In Chicago and other major metropolitan areas, prices could jump to $4.60 or more by May, Kloza tells the Sun-Times.

Habermehl says such severe spikes may result in a trend toward downsized cars in the near future.

Prices already hit their highest level ever for the month of January this year, with an average of $3.69 for Cook County. AAA spokeswoman Beth Mosher said last week that the spike would have been even worse if not for sluggish demand.

Experts added last week that with Persian Gulf tensions ratcheting up over Iranian nuclear ambitions, oil prices are not likely to come down anytime soon.

  • Jerry

    if everyone takes 3 days off from everything at the same time it will stop this crazy gouging and if they cut back production we take another 3 days off shut America down and this will stop!

  • Roberta Waker

    If these “experts” would shut their mouths, prices wouldn’t go up that high. Whenever they “predict” a price for gasoline, the oil companies jump on it and raise the prices accordingly. There is NO reason for prices to jump for crude that won’t even be delivered or processed for months. We need to keep crude FROM the U.S. IN the U.S. and stop exporting to other countries and we need to get crude off the commodities market because the speculators are driving the prices up and making millions.

    • lon

      i agree

  • cantliveithoutammenities

    demand for gasoline will be going up.

    Why because they say so and people will start believing it? If people had some common sense this abuse would stop. All you will hear people saying this spring and summer is, “They say demand will for gas will be going up.” People in Chicago need to start using their brains more.

  • Jim

    Oil prices were about $155/barrel when gas was $4.25. Now they are saying that with oil at about $100/barrel gas will be $4.60 or more? If my math is correct someone or a group of people will be making boatloads of money at our expense!!!

  • Kelly

    Well looks like Big Oil is trying to “program” us again, with their false claims of oil skyrocketing… When will the press get off of the “spin” and deal with the truth of this situation.. Big Oil wants Americans to believe that we need the last part of the Keystone Pipeline in order to bring oil costs down.. However that is not the case… The parts of the Keystone Pipeline for American consumption is completedly and already up and running.. This last part is strictly for export to other countries, which by the way Canadians are against the pipeline going into British Columbia and their waterways… So let’s get real, get better vehicles that are hybrid or go electric… Gasoline demand always increases in the summer… Either way, gas guzzling is going the way of gas guzzlers, and big oil will try other ways to keep profits up for their shareholders as that is who they listen too… Consumers are jus their suckers waiting for the next punch…

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