Monday, May 07, 2007

You thought I was nuts

In the post below I said to be prepared for gas at $4 a gallon. Well, CNN makes the same prediction this afternoon.

Get ready for $4 gasoline

With gas prices near record highs, experts say $4-a-gallon gasoline is just around the corner.

"I think it's going to happen," said Phil Flynn, a senior market analyst at Alaron Trading in Chicago. "Unless things change dramatically, I think we're going to see $4 a gallon."

Refinery output in the U.S. has been below normal for several months now, after fires and other accidents combined with longer than normal maintenance shutdowns, hurting production.

This all comes just as the nation gears up for the summer driving season, spurred by vacationing families and students out of school.

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