Gas Outlook: ‘Most Painful Year At Pump Ever’

Posted by on Jan 14, 2012 at 12:51 pm

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

Gas prices always spike in the summer, but the 2012 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.

DeHaan says there are several factors that will cause the increase, and one of them is a double-edged sword.

Full story.

One Response to “Gas Outlook: ‘Most Painful Year At Pump Ever’”

  1. SpideyTerry on 15/15/12 at 8:50 pm

    Hmm, a gas increase in a year where Obama resists that pipeline project and faces a difficult election?

    I can’t wait for the spin on this one.