Gas Price Shooting To $3.75/gallon

A tweet from the FuelFix folks indicates that gas prices may reach $3.75 in the spring having passed the crucial oil price of $90 a barrel earlier this month. Already gas prices are the highest on record for any December.

Being a Twitter feed, no reason for the predicted jump in prices was given - just that we are headed there.

"The national average retail price for regular unleaded held overnight at $2.98 a gallon, while the Houston average rose a fraction of a cent to $2.80 a gallon, according to AAA's Daily Fuel Gauge Report.

Pump prices nationwide for regular unleaded could hit an average of $3.25 to $3.75 a gallon early next year on higher crude oil prices and a seasonal rise in gasoline demand, Tom Kloza, senior oil analyst with the Oil Price Information Service predicts."

From NPR via WGBH: Highest Gas Prices EVER Recorded for a December.
"That is the highest price ever recorded in any December. It is much more common for gas to soar around the Fourth of July. NPR's Sonari Glinton looks at what current gas prices may mean for holiday shoppers." She interviews
Mr. Toy Green of AAA.

From AP via FuelFix: Oil prices hit $90 milestone: When the price of a barrel of oil passed the $90 mark on Dec. 7, it set the stage for reach $100 sometime in 2011.

Thanks to John Hartz

Full Story: ‘Fuel apocalypse’ to come: Gas could top $3.75 by spring, analyst says
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