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Gas prices to hit $4 a gallon by spring
Gasoline prices could soon hit $4 a gallon, a threshold they haven't flirted with since last spring.
Brilliant, Barack, brilliant. You own this one.
The average price paid by U.S. drivers for a gallon of regular now stands at $3.52, according to the U.S. Energy Information Administration, which released its latest figures this afternoon. That price represents an increase of 0.04 percent from a week ago and 0.38 percent from a year ago.

Experts expect prices to spike another 60 cents or more, with the $4 mark being touched—or exceeded—sometime this summer, probably by Memorial Day weekend, the peak of the summer driving season. The last time the U.S. saw $4 gasoline was back in the summer of 2008.

"I think it's going to be a chaotic spring," says Tom Kloza of the Oil Price Information Service. He expects average prices to peak at $4.05, though he and other industry trackers say prices could be sharply higher in some markets.

Historically, $4 a gallon has been the upper limit of what consumers have been willing to pay. Last April, national prices peaked at about $3.98 a gallon before receding. "It's going to be tough to sustain that level," thinks Brian Milne of energy tracker Televent DTN. "People will drive less."
Posted by: Steve White 2012-02-14
http://www.rantburg.com/poparticle.php?ID=339043