Are the gas prices going to go up to $5 dollars a gallon?

Answer 1

Of course they are. Just by the virtue of inflationary effects on prices, $5 a gallon is a foregone conclusion. When your paycheck has increased by 25% from where it is now, all other prices will have risen by about 25% as well, unless you're very lucky or unlucky.

Will it happen this year or next year? Not likely, but who knows what the future will bring? Right now, gas futures are dropping, which means that prices are likely to drop as well, but a little unrest in the mideast, or a weather catastrophe could spike prices overnight.

Do what you personally can do to reduce your energy consumption and accept that prices are too big for any one government or industry to control.

Answer 2

It's not out of the realm of possibilities. Many countries pay way more than $5/gallon.

There has been talks about raising the gasoline tax too! The government is realizing they can't sustain the current highway infrastructure without more money for maintenance. So don't be surprised if gas prices gets to $5 faster than you think.

Answer 3

"They" say it wont' hit $4 a gallon but it's already $3.69 a gal for premium where I live so tack on .31 and so much for what "They" said.

$5, I dunno. Someday it will, just look at what the poor folks in the UK are paying (around $10 a gallon!), but I don't think it will be this year. The gas companies have seen we're willing to pay $3 a gallon, they're going to just keep pushing up the price until we balk. If people don't quit buying and driving these bloated SUVs, it is just gonna keep rising.

Answer 4

IN PLAIN ENGLISH – HERE IS WHY YOU ARE WRONG (1) Your premise is that blocking the Keystone pipeline is causing oil to rise in price. There is no truth to that position whatsoever. One would think that if the US suddenly had a larger amount of its own oil from its own soil that the US wouldn’t have to import oil from overseas and so the price of oil would go down. Right? Actually, wrong. The US is already the third largest producer of oil in the world, right now. (You can verify that on your own.) So why are our prices still high? Very simple – because those who are extracting it and selling it are selling it for as much as they figure people are willing to pay for it. It’s that simple. They don’t have to sell it for less and so they won’t sell it for less. They could even find double the amount of oil in the ground that we currently have and nothing would change. They would just keep selling it to you for as high of a price as they can. Why wouldn’t they? What is stopping them? Nothing is stopping them. You think that if the Keystone pipeline were to start sending more oil to the continental US that oil producers would suddenly develop a good conscience and say to themselves “oh now that we have more oil why don’t we just lower the price for all of those poor folks out there; there’s plenty to go around anyway and we’re rich already. Let’s just be nice and lower the price”? You think that this is going to happen? Not a chance. (2) American oil producers sell their oil to the highest bidder. This includes buyers in other countries. American oil producers will sell their oil at a high price to China before selling it to you at a lower price. (3) Too bad you didn’t vote for Al Gore back in 2000. If you had, Al Gore would have promoted alternative fuel, such as solar development, which would have created a competitor to oil and which would have caused the price of oil to rise at a slower pace. Too bad you voted for GW Bush who deregulated the interstate commerce of electricity in 2001 which made it possible for the price of electricity to skyrocket, as it did during Bush, which then made it possible for electricity’s competitor, oil, to also skyrocket in price now that electricity was no longer cheap. Did you ever wonder why the price of oil remained low throughout Bill Clinton’s presidency? (4) (I hope some of this has sunk in and that you will cease to continue to sound naïve.) ----- ADDED ON THE NEXT DAY So, did you learn anything?

Answer 5

I don't know that we'll see $5 a gallon this year, but i think $4 is a very high possibility.

Answer 6

If two things continue to happen, yes. 1.) People continue their unabated use of gasoline by driving everywhere, and buying SUV's, sports cars, huge V8 gas guzzlers, and large trucks needlessly. 2.) The Democrats continue to deny the oil companies permission to expand existing refineries, or build new refineries.

Answer 7

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Answer 8

in Southern California regular unleaded is already at $3.47, i even saw one place for regular unleaded closer to the $4.00 range and summer days aren't really here yet they just begun. if the government doesn't do something to investigate like they did last year and found over pricing i do believe it will go in to $5.00 range it seem were working to pay gas more then to make a living.

Answer 9

I f'n hope NOT. If they do, everybody is screwed. Wages are staying the same, homes are going up, car prices are going up, food prices are going up. Everything but income will be going up. It's like $3.25 in upstate NY (8 hours North of NYC.)
I dont want it to go up anymore than that either.

Answer 10

It's happened in parts of Europe. It's just a matter of time before those prices drift across the pond.