Gas Price Predictions Aren’t Pretty
The number question about gas prices, seems to be "How high are gas prices going to go?"
American Petroleum Institute Chief Economist John Felmy tells KPEL that is the country had an energy policy that promoted oil and gas drilling then the United States would be on much more solid footing.
He says the big issues with high gas prices right now has to do with "China, China, China" He says most of the factors about high gas prices have to do with supply and demand.
He says throw tensions with Iran into the mix, and you get gas prices that could really go sky high. What will futures do? He says it's anyone's guess based on all of these factors.
Triple A's daily gasoline price gauge, today's average price for regular unleaded is $3.74 a gallon, up nearly a penny from yesterday. That's a 13-cent rise over the last week and a 30 cent rise over the last month. The price is 35 cents higher than it was on March 1 of last year.