How high will gasoline go in 2012

[oldasdust]

Ok with Iran beating their chest and every other possible reason for gas prices to rise, where will it go. A few so called energy experts in the Chicago area predict $ 4.50 to just under $5.00 in Chicago by summer. Gee i guess the Prius in all its forms along with everyother green vehicle will be in demand.

[frodoz737]

...and if we don't go to war with Iran, the price will still go up because it rained in Utah or something.

[Econ]

Originally Posted by oldasdust

Ok with Iran beating their chest and every other possible reason for gas prices to rise, where will it go. A few so called energy experts in the Chicago area predict $ 4.50 to just under $5.00 in Chicago by summer. Gee i guess the Prius in all its forms along with everyother green vehicle will be in demand.

Bet we will be looking at $5.25! We are headed for the squeeze.

[wjtracy]

...if it is anything like predicting interest rates, I will bet the opposite of what everyone thinks...going down

[DavidA]

Phew! Thank goodness I just filled up.

So... if it does rain in Utah, and we do go to war with Iran, and interest rates do something unexpected, then I should start making my own gasoline at home. Got it. Now, where did I put all those C11H24 molecules I've been storing? Do I need some sort of EPA license to do this? I wonder if I'd be violating any local municipal codes in producing gasoline for my own use. Lots of work ahead.

[ETC(SS)]

Actually, smart money says it takes a bit of a hike, and yeah---$5 would be unreasonable since it's already at three.
There will be a counter-acting force that will depress demand for gas, and this will probably moderate the spike this time. We're in a spluttering economy, there's been no actual interruption in the flow of oil out of the NAG, and domestic production is up.

Of course the inflationary impact of any spike in energy prices will be kind of 'bad' for our economy. However (comma!) there's a billion dollar industry out there that will be working very hard to moderate (or at least obfuscate) this.
http://theweek.com/article/index/223...-hype-backfire

[bisco]

if we're prognosticating, based on the feds promises today, i'll go with four bucks. of course, a change in the presidency could also have an effect.

[amm0bob]

Actually... if we go to war with Iran after they try to close the straight... it will be over $10 a gallon...

I remember the embargo days... it was greater than that as a percentage.

[wjtracy]

Originally Posted by DavidA

Phew! ... then I should start making my own gasoline at home. Got it. Now, where did I put all those C11H24 molecules I've been storing? Do I need some sort of EPA license to do this? I wonder if I'd be violating any local municipal codes in producing gasoline for my own use. Lots of work ahead.

If making at home, the gasoline molecule C2H5OH is highly recommended.

[qbee42]

Conspiracy theorists would point out that it is an election year...

Tom