Tensions Raise Specter of Gas at $5 a Gallon

Posted on March 12, 2012 by dannynelson • 0 Comments

Gasoline for $5 a gallon? The possibility is hardly far-fetched.

With no clear end to tensions with Iran and Syria and rising demand from countries like China, gas prices are already at record highs for the winter months — averaging $4.32 in California and $3.73 a gallon nationally on Wednesday, according to AAA’s Daily Fuel Gauge Report. As summer approaches, demand for gasoline rises, typically pushing prices up around 20 cents a gallon.