Gas Prices Spike to Second-Highest Level Ever, Analyst Predicts $4/Gallon This Summer

Posted on  

"Gas Prices Spike to Second-Highest Level Ever, Analyst Predicts $4/Gallon This Summer"

NBC News reported today on a new Lundberg Survey showing that the average national gas price has spiked up 11 cents over the last two weeks to $3.00 per gallon, the second-highest level in U.S. history.

TRILBY LUNDBERG: We’re within a couple of pennies of the nominal all-time high last September, when there was a shortage of gasoline brought on by hurricane damage. And we’re just six cents under the real high — the inflation-adjusted high of March ’81 — in today’s dollars.

Also this morning, Brad Proctor of GasPriceWatch told ABC News he was expecting possible $4/gallon gas prices this summer. “We’ll see $3 and possibly $4 depending where the summer goes in terms of hurricanes and other natural disasters that may happen. We’ll see an upward trend occur.”

It’s definitely time to Kick the Oil Habit.

« »

By clicking and submitting a comment I acknowledge the ThinkProgress Privacy Policy and agree to the ThinkProgress Terms of Use. I understand that my comments are also being governed by Facebook, Yahoo, AOL, or Hotmail’s Terms of Use and Privacy Policies as applicable, which can be found here.