If you think the prices you're paying at the pump are too high now, just wait. A bold prediction from a former oil company executive says gas could reach $5 by 2012, and a local expert says it's certainly possible.
According to rochestergasprices.com, drivers in the Rochester area are paying anywhere from $3.13 to $3.39 a gallon right now. That's well above the national average of $3.05 a gallon.
The current prices are tough enough for drivers--let alone $5 a gallon which we could see in the near the future. But drivers say they don't really have a choice.
Robert Knight thinks the price he's paying for gas right now is too high--especially this time of year.
"Regular is $3.15? It's out of control," said Knight, "It's Christmas, I got kids, people have bills to pay."
But like it or not, we could soon see a repeat of the high prices we saw in 2008--if not higher.
Former Shell Oil President John Hofmeister says gasoline prices could reach $5 a gallon by 2012. He says the country's economic recovery has brought demand back to where it was previously. Except now, the rest of the world is also demanding more oil.
Ralph Bombardier, of the "Repair Shop and Gasolines Retailers Association of Western New York", says the cost of crude oil has risen nearly $20 a barrel over the last year--affecting prices drivers pay at the pump. He says the only things that can help reduce prices is government intervention and consumers cutting back. Carpooling is one option, also buying more fuel efficient vehicles.
"Make no mistake about it, we're being screwed. There's no reason for prices to be this high," said Bombardier, "If the usage comes down, they can't drink it, the inventories go up, and the price levels off."
But that's easier said than done for folks like Knight.
"$5, we would all still pay it, but it would be outrageous, very outrageous. We all need gas. It could go up to $10, and I would still pay," said Knight.
And Knight's not alone. Shalanda Bevritt doesn't think people will cut back.
"That's impossible I think, pretty much impossible. I need the gas. I need to get to where I gotta get. So, disgusted, but hey, what can I say?" said
To find the cheapest station near you, click here.
Bevritt.
Courtesy of News 10 WHEC
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