Gasoline Could Hit $5 a Gallon as Big Oil Scales Back Expansions

Analysts say that the move to cut back on refinery expansions could drive gasoline prices as high as $5.00 per gallon over the next few years.

So with consumer anger at an all time high, why would oil companies be willing to make such a move? Well, you can thank the United States government for that one.

For the past few years the Senate has been pushing for increases in ethanol production. With President Bush calling for a 20 percent decrease in the use of gasoline, ethanol has become the main substitute.

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