Displaying items by tag: A Positive Gas Price Prediction
Monday, 16 January 2012 16:04

AUDIO A Positive Gas Price Prediction

Gas prices have been on the rise over the past couple of weeks, and there have been predictions of $4 per gallon gas by summer.

But Ed Weglarz, of the Associated Food and Petroleum Retailers of Ohio and Michigan, doesn't think the price will go that high.

"What I see is pretty stable prices probably in the $3.30 to $3.50 range, maybe for the summer $3.60 or so," he said.

Weglarz says $4 per gallon would be difficult to charge in the United States.

"I really don't think even from a political standpoint, being an election year, nobody in either party wants to see gasoline hit four bucks a gallon," he said.

A Positive Gas Price Prediction by Akron NewsNow

Weglarz says Iran following through on a threat to block oil shipments through the Straits of Hormuz could cause a sharp rise in gas prices here.

"80 percent of the oil that goes through the Straits of Hormuz goes to Asia, but it affects the world market, and creates a problem for the world market that winds up affecting prices here in the United States," Weglarz said.

Weglarz says if Congress and the President would approve construction of the Keystone Oil Pipeline, it would have a positive stabilizing impact on U.S. gas prices.  

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