How high will gas prices rise this summer?

According to CNNMoney.com gas prices have risen 10% over the last two weeks. Yesterday, the Energy Information Administration reported that the average price of gasoline in the US was $2.24 a gallon. The key question is, “How high will gas prices rise this summer?”

Typically demand increases as the Memorial Day holiday nears. This is generally recognized as the start of the summer driving frenzy. Schools are out, beaches are open, RVs are traveling, and boaters are headed to the lake for skiing and fishing. Basic economics indicates as demand increases, supply decreases – which increases prices.

AAAFuelGaugeReport.com
AAAFuelGaugeReport.com
Will we see $4.00 a gallon again this summer? Time will tell.

To find fuel prices near you, you can use the following websites:
AAAFuelGaugeReport.com
GasBuddy.com
GasPrices.MapQuest.com
Energy Information Administration, Department of Energy

What do you think? Will gas prices continue to rise? How high will gas prices have to go before you change your driving habits?

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Auto Upkeep 4th Edition

Michael Gray

Mike has roots in the automotive service industry. He began diagnosing and fixing cars at a young age in his family’s service station. He has worked in automotive parts supply stores, towing companies, and service facilities. After graduating from St. Cloud State University (MN) with a Bachelor’s degree, he implemented and taught a basic car care program at the high school level. During work on his Master’s degree at Illinois State University (IL), he was a curriculum specialist on a National Science Foundation project where he co-authored ten integrated mathematics, science, and technology books designed for team teaching. Mike has also supervised teachers in Career and Technology Education as a school system administrator.

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