Wednesday, August 31, 2005
$4 a gallon gas coming soon?
OPIS tracks wholesale and retail oil prices and provides pricing information for AAA's daily reports on fuel prices.
Brockwell said with gasoline prices now exceeding $3 a gallon before even reaching the wholesale level, it "doesn't take a genius" to expect retail prices to hit $4 a gallon soon.
"Consumers haven't seen the worst of it yet," Brockwell said.
He expects consumers in the Southeast and Northeast to be pinched first, following the impact of Hurricane Katrina on the Gulf Coast region.
As a truck driver who delivers auto parts I am worried. Of course, I don't think anybody's going to be feeling good after 6 months of $4 a gallon gas.