$7 Gas Coming: Tipping Point for Public Transit, Bicycles & Alternative Cars?
Now the predictions are really getting people's attention: "Surging crude prices, which could surpass $200 a barrel in four years on tight supplies, could push gasoline prices to as high as $7 a gallon, CIBC World Markets analysts said Thursday," MarketWatch said early this afternoon.
Currently, U.S. oil is $116 a barrel, down $3.90 from Tuesday's "historic high." The national average is $3.56 and in Los Angeles, the upward trend pushes the local average to nearly $3.85.
Photo of a Downtown LA gas station last Friday by Zach Behrens/LAist