Wednesday, May 03, 2006

$5 a gallon!


It isn't a matter of if, only when.

New York Daily News - World & National Report - $5 a gallon!:

"Tight petroleum supplies amid soaring demand could drive crude oil prices above $100 a barrel by this winter, energy experts warned yesterday.

That could translate into gas prices of more than $5 a gallon at the pump and spike home heating oil an additional 30%, analysts said.

Iran's deputy oil minister, Hadi Nejad Hosseinian, fueled the paranoia yesterday by predicting that crude could hit $100 a barrel by the end of the year - $26 above even yesterday's near-record price."

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