Photo: Flickr / cmiked
If this winter’s unseasonably warm weather has kept you out on the road more than usual this winter, here’s a bit of bad news:Analysts predict the national average for gas prices will increase by another 60 cents by May, USA Today’s Gary Strauss reports.
Prices at the pump have already climbed significantly. The national average today is $3.47 compared to $3.12 in February 2011, according to the AAA Fuel Gauge Report.
And overall consensus among analysts is that gas prices will crack the $4 mark by spring. (See why gas prices in Chicago might reach $5 per gallon by Memorial Day.)
But as GasBuddy points out, prices might stretch even higher, depending on how current uprisings in the Middle Eastern pan out.
The site, which helps consumers find the cheapest gas in their zip code, posted remarks from U.S. defence Secretary Leon Panetta who said an attack on Iran by Israel would immediately spike oil prices—potentially adding $2.50 per gallon to the national average.