Posted by
John Finnigan on Thursday, July 03, 2008 1:07:19 PM
Premium Gas over $5.00 per gallon some places
Today you’ll see the occasional sign with the cost of premium gas going tor over $5.00 a barrel. I was watching a ten year old movie and the gas signs in the movie showed premium gas at $1.25.00 a gallon back then.
Car sales are down, but gas consumption when compared to sales is not.
So, $6.00 a gallon by august 15 is not out of the question.
Remember, the price will rise to whatever the market will uphold. As long as consumption continues and global demand raises, prices will continue to go up and up, and up.
Will there be $8.00 to $10.00 per gallon by Christmas? Maybe, hold on to see….
John