$10 A Gallon
Apr 28th, 2008 at 2:11 pm by Susie
Industry analysts predict it in a few years:
“Get ready for another economic shock of major proportions — a virtual doubling of prices at the gas pump to as much as $10 a gallon.
That’s the message from a couple of analytical energy industry trackers, both of whom, based on the surging oil prices, see considerably more pain at the pump than most drivers realize.
Oil recently hit an all-time high of nearly $120 a barrel, more than double its early 2007 price of about $50 a barrel. It closed Friday at $118.52.
The forecasts calling for a jump to between $7 and $10 a gallon are based on the view that the price of crude is on its way to $200 in two to three years.”
we should take these analyses with a grain of salt. predictions of future prices are often innaccurate, etc.
that being said, $10/gallon of gas would hit our society at all levels. everything we buy is transported using oil. doubling the price at the pump, means higher inflation. it could also lead to a serious investment in alternative fuels, but you still need people pushing hard for it.