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Sat Jan 14, 2012, 02:05 PM

Gas Outlook: ‘Most Painful Year At Pump Ever’ [View all]

CHICAGO (CBS) — Gasoline prices could approach $5 a gallon by Memorial Day and stay a record levels for much of the summer, according to a forecast by GasBuddy.com.

Gas prices always spike in the summer, but the 2012 Gasbuddy.com Price Outlook predicts this summer will break records.

“It looks like it might be the most painful year at the pump that we have ever seen,” senior analyst Patrick DeHaan said.

By Memorial Day, gasoline in the Chicago area could rise to between $4.60 and $4.95 a gallon–more than a dollar above the current average.



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Reply Gas Outlook: ‘Most Painful Year At Pump Ever’ [View all]
Purveyor Jan 2012 OP
Fumesucker Jan 2012 #1
Purveyor Jan 2012 #2
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TransitJohn Jan 2012 #3
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txlibdem Jan 2012 #6
madrchsod Jan 2012 #7