Gas hike possible for drivers
TOLEDO - With the travel season approaching, Ohio motorists are
bracing for higher fuel prices and the possible return of $2-a-gallon
gasoline.
"Many of the ingredients that caused the increases last summer are
still with us," said Geoff Sundstrom, a spokesman at AAA's national office
in Heathrow, Fla. He has tracked gasoline prices for 10 years.
"Prices may not get to the $2 level, but certainly they will be much
higher (this summer) than they are now," said Sundstrom, who has tracked
gasoline prices for 10 years.
Supply disruptions similar to last summer would be the most likely
reason for another price spiral this year, experts said.
Sundstrom said a continuing economic downturn could dampen fuel demand.
"That would just be a silver lining, though. We don't advocate having
a recession to keep gas prices lower," he said.
Dave Costello, an economist with the Federal Energy Information Administration,
said that low gasoline inventories make the market especially vulnerable
to shortages.
The federal agency expects a national summer price average in the
high $1.40s, he said.
"But don't be surprised if we get another spike - the underlying
conditions are there," Costello said. "Two-dollar gasoline is possible
but not very likely."
|