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Look for Gas Prices to Hit $4 a Gallon by Summer, If Not Sooner

Look for Gas Prices to Hit $4 a Gallon by Summer, If Not Sooner
By Brad Tuttle | @bradrtuttle | January 6, 2012

David Fischer / Getty ImagesThe priciest year ever for gasoline has just ended. In 2011, the average gallon sold for an all-time high of over $3.50, and the average household spent $4,155 gassing up their vehicles—also a record. And if you were hoping for relief at the pump in 2012, it looks like you’re out of luck.

At this time last year, the average gallon of gas sold for under $3.10. Prices never got cheaper than that, peaking at $3.96 in May, according to GasBuddy.

Read more: http://moneyland.time.com/2012/01/06/look-for-gas-prices-to-hit-4-a-gallon-by-
summer-if-not-sooner/#ixzz1igOT8T7F

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