Uh-oh: The return of $3 gas

…Will gas and oil prices keep climbing? And if so, how much higher do they need to go before they possibly put a dent in what appears to be a burgeoning, yet still fragile, economic recovery?

Darin Newsom, senior analyst with Telvent DTN, a financial markets research firm based in Omaha, Neb., said it looks like there is momentum in the commodity markets. That should lead to higher oil and gas prices.

“Gas is going to continue go higher because the commodity markets in general seem to be on the run right now,” he said, adding that oil could approach $90 before cooling off and that gas might head toward $3 a gallon as a result.

That could be a problem for consumers. Some economists think that $3 a gallon for gasoline could lead to a noticeable change in consumer spending behavior.

CNN