Joeychgo
March 4th, 2005, 03:09 PM
Gas Prices Might Increase 24 Cents
By James R. Healey, USA TODAY
(March 4) Gasoline prices could rocket 24 cents a gallon the next few days, as stations across the USA scramble to keep up with big jumps in the prices of oil and wholesale gas, a veteran energy-price analyst forecast Thursday.
"It's going to be brutal, horrendous," says Peter Beutel, president of energy-price tracker Cameron Hanover. He has followed energy markets for nearly three decades.
Thursday, light, sweet crude oil for April delivery traded as high as $55.20 a barrel in New York before closing at $53.57.
A 24-cent jump in the price of gas would bump unleaded regular to a nationwide average of about $2.16 a gallon, blowing through last May's record of about $2.06. It could go higher as increased warm-weather driving in another two months pushes up demand, and therefore prices, forecasters say.
Read the rest at the USA TODAY (http://www.usatoday.com/money/industries/energy/2005-03-03-gas-usat_x.htm)
By James R. Healey, USA TODAY
(March 4) Gasoline prices could rocket 24 cents a gallon the next few days, as stations across the USA scramble to keep up with big jumps in the prices of oil and wholesale gas, a veteran energy-price analyst forecast Thursday.
"It's going to be brutal, horrendous," says Peter Beutel, president of energy-price tracker Cameron Hanover. He has followed energy markets for nearly three decades.
Thursday, light, sweet crude oil for April delivery traded as high as $55.20 a barrel in New York before closing at $53.57.
A 24-cent jump in the price of gas would bump unleaded regular to a nationwide average of about $2.16 a gallon, blowing through last May's record of about $2.06. It could go higher as increased warm-weather driving in another two months pushes up demand, and therefore prices, forecasters say.
Read the rest at the USA TODAY (http://www.usatoday.com/money/industries/energy/2005-03-03-gas-usat_x.htm)