Gas Prices Could Climb To Over $4 Per Gallon By Mid-Summer

Date posted - January 18, 2012

Talk continues about high gas prices

While pump prices fell a few cents in recent days, there are persistent rumors Iowans will be paying more than four-dollars a gallon for gasoline by summertime. Gregg Laskoski, the senior petroleum analyst at GasBuddy-dot-com, believes those rumors will prove true. Laskoski expects gas prices to hit four-ten or four-15 a gallon by June or July.

Laskoski says anytime gas prices go up at the start of a new year, it’s a signal that trend will contin ue. In the past, when prices have skyrocketed, drivers did what they could to conserve fuel and buy more efficient vehicles. He says individual fuel consumption has nothing to do the rise in price. He says the consumption factor fell out of the equation a long ago.

When oil is traded overseas, it is exempt from U-S regulations. Laskoski says there is no “common sense regulation” in the commodities market. He agrees with reports that consumption is down but not because drivers are cutting back. He says more people are unemployed and have no jobs to drive to.

Laskoski says TransCanada’s Keystone X-L oil pipeline could shake things up. The proposed six-Billion-dollar pipeline would stretch from Canada to Texas, going through several states, including nearby South Dakota and Nebraska.

Progress on the proposed pipeline has ground to a halt as concerns rise about its potential impact on environmentally-sensitive areas.

Story from RadioIowa

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