NEW YORK (AP) - Retail gas prices could climb as high as $4 a gallon this summer, but prices at such lofty levels will make many Americans think twice about hitting the road this summer, the Energy Department said Tuesday.

High prices and a weak economy are expected to cut demand for gasoline by about 0.4 percent during the peak summer driving season, the department’s Energy Information Administration said in a monthly report on petroleum supplies and demand. Overall consumption of petroleum products will drop by 90,000 barrels a day this year. Previously, the EIA had projected petroleum consumption would rise by 40,000 barrels a day.

Average monthly gas prices will peak around $3.60 a gallon in June, the EIA said. However, prices could rise much higher than that at times.

“It is important to note … that even if the national average monthly gasoline price peaks around $3.60 per gallon this summer, it is possible that prices at some point will cross the $4 per gallon threshold,” the EIA said.

The government had previously estimated that average monthly prices would peak near $3.50 a gallon. Many analysts predict prices will peak close to $4 a gallon.

Full Story Here:
Gov’t Says Gas Prices Could Hit $4

I guess this pretty much puts the libbers LIE to rest, the one that said Iraq was a ‘War for Oil’, because if it really was all about the oil, then Iraq has been a dismal failure.

I never did buy into the libber BS mantra of ‘War for Oil’, Bush isn’t that smart, he is a vindictive guy though, and that is the reason we’re in Iraq, and in MY opinion, us being in Iraq is the reason OPEC and Company have the price of crude oil at over $100 a barrel, and here’s something else to consider, the U.S. military is being hit HARD by the price of fuel to keep the war machine running, Military feels hit from fuel costs.

We are being bankrupted by the Bush administration and his Debacle in Iraq, and it’s going to get worse, everything you wear, eat, drink or whatever you buy at a store, ANY store, was brought TO that store by a truck, likely a BIG truck, a Class 8 18 wheeler that gets maybe 7 to 7.5 miles per gallon if he is a good driver and keeps his foot out of it, and with 300 gallons of fuel capacity, it takes over $1,000 to fill the fuel tanks so deliveries can continue, and take a guess at WHO is paying for that increased fuel expense.

Yeah, you guessed it, it’s us, ALL of us, you and me, as well as the families of the drivers, and the drivers themselves, ALL of us suffer from this out of control economy and high oil prices and the trickle down costs that are added to the price of goods brought by trucks, the cost have got to be absorbed, passed on to the consumer, and that means higher prices to consumers, or the drivers will not be able to keep on running and making those deliveries, and I am pretty sure that it’s not going to get any better, not any time soon.

Maybe we DO need to take the oil, maybe that would be the best thing to do, at least we would see some real gain and a return on the BILLIONS of tax dollars we’ve wasted in Iraq, but remember this, NO amount of oil will EVER make up for our troops losses.

Trackback URL:
http://texasfred.net/archives/1061/trackback/