US: Get Ready for $4 Gasoline

Get ready for $4 gasoline
With prices at record high, demand and refining problems could push them much higher. Any relief in sight?

With gas prices near record highs, experts say $4-a-gallon gasoline is just around the corner.

“I think it’s going to happen,” said Phil Flynn, a senior market analyst at Alaron Trading in Chicago. “Unless things change dramatically, I think we’re going to see $4 a gallon.”

NEW YORK (CNNMoney.com) —
Already, prices in California average $3.48 a gallon, according to the motorist organization AAA. And one service station in San Francisco was charging $3.95, according to GasBuddy.com, a handy site that lists the cheapest and most expensive gas stations by city and state across the country.

Refinery problems and strong demand are the two main reasons cited for the runup. Prices hit a record high of $3.07 a gallon, according to the Lundberg survey released Sunday….
By Steve Hargreaves, CNNMoney.com staff writer
May 7 2007: 2:29 PM EDT


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