Chuck
02-23-2008, 12:33 AM
Many analysts believe gas prices will rise this spring to new records near $3.75 or $4 a gallon. But not everyone agrees. (http://ap.google.com/article/ALeqM5i5TtajgUpSm7KY5jf-lCJGHBB-tAD8UVJUM80)
http://www.cleanmpg.com/photos/data/501/Hummer_H2_Filling_up.jpgJohn Wilen - AP - Feb. 22, 2008
New York — Gas prices jumped Friday to their highest level since June, a possible preview of what many analysts believe will be a record spike in pump prices this spring.
But the current price surge could be short-lived. While gasoline has risen sharply in recent days in response to oil's dramatic climb to a new record above $101 a barrel, gas supplies have quietly grown to their highest level in 14 years.
"We've got a major supply cushion," said Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates in Galena, Ill.
At the pump, gas prices rose 2.9 cents overnight to a national average of $3.115 a gallon, according to AAA and the Oil Price Information Service. That was the highest since June 8…http://ap.google.com/article/ALeqM5i5TtajgUpSm7KY5jf-lCJGHBB-tAD8UVJUM80
http://www.cleanmpg.com/photos/data/501/Hummer_H2_Filling_up.jpgJohn Wilen - AP - Feb. 22, 2008
New York — Gas prices jumped Friday to their highest level since June, a possible preview of what many analysts believe will be a record spike in pump prices this spring.
But the current price surge could be short-lived. While gasoline has risen sharply in recent days in response to oil's dramatic climb to a new record above $101 a barrel, gas supplies have quietly grown to their highest level in 14 years.
"We've got a major supply cushion," said Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates in Galena, Ill.
At the pump, gas prices rose 2.9 cents overnight to a national average of $3.115 a gallon, according to AAA and the Oil Price Information Service. That was the highest since June 8…http://ap.google.com/article/ALeqM5i5TtajgUpSm7KY5jf-lCJGHBB-tAD8UVJUM80