Gas Getting Pricier, Oil Demand Rises

“I have already heard from gasoline retailers that new shipments are costing them a dime more (per gallon),” said Peter Beutel, president of Cameron Hanover Inc. of New Canaan, Conn., a provider of petroleum market analysis. “By next week prices will be 10-15 cents higher at the pump in many places.”

“I believe oil prices and the economy are on a collision course and that it’s only a matter of time,” Beutel added.

The greatest financial squeeze will surely be felt by low- and fixed-income families, who spend about three times as much of their wealth on energy as do middle-income families.

Yahoo