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Old 06-13-2008, 02:20 PM   #1
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gas price prediction

Gas Averages $3.90 in SA, $5.75 by End of Summer Seen

Experts say there's nothing we can do about it
By Jim Forsyth
Friday, June 13, 2008
The average price of a gallon of gas in San Antonio today sits at $3.90, up nearly eight cents from just one week ago, 1200 WOAI news reports.



The statewide average, according to the American Automobile Association, is even higher, $3.93.



At the McGuire Energy Institute at Southern Methodist University, analyst Bruce Bullock says it won't be too long that $3.90 seems cheap to us.



"I don't think it's out of the question that we'll see $150 a barrel this summer, which will translate into somewhere between $5.50 and $5.75 a gallon," Bullock said.



He says it's a combination of speculation and increased demand from Asia that is forcing the price up, and neither of those two factors will be easing any time soon.



"Until those countries begin to slow down their use of oil, we're not likely to see a whole lot of relief," Bullock said.



The McGuire Institute's predictions have been fairly accurate in determining future gasoline prices in the past.
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Old 06-13-2008, 05:45 PM   #2
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that sucks...just fueled up diesel again today @ about .58 cents per liter can't wait to get my aux tank...
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