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Forget $5 gas, the new worry is $6 gas: Middle East strife threatens to push prices to record levels

Culturemap Houston -- Could oil expert John Hofmeister's prediction of $5 gas in 2012 be too low? As tensions continue to mount over Iran's nuclear program, some analyst's say . . . well, maybe.

The first two weeks of February already have seen a surprising 18-cent jump in fuel pump prices according to petroleum Lundberg Survey, which charted a national average of $3.69 on Friday.

The online user-generated research group GasBuddy reported a slightly better national average at $3.65 per gallon with Houston clocking in at $3.54 — increases of 31 and 33 cents, respectively, from this time last year.

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Submitted Feb 29, 2012 By: LTVibe

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bevmill Champion Author Georgia Posts:2,592 Points:603,245 Joined:Apr 2006	Message Posted: Feb 29, 2012 6:05:25 PM Ignore bevmill Report Abuse Oil is a commodity. Prices are controlled by the market.
seeyardee Champion Author Sacramento Posts:9,116 Points:1,808,405 Joined:Apr 2008	Message Posted: Feb 29, 2012 6:05:04 PM Ignore seeyardee Report Abuse No sympathy for SUV's.
phyl81363 Sophomore Author Delaware Posts:191 Points:227,250 Joined:Jun 2011	Message Posted: Feb 29, 2012 6:04:55 PM Ignore phyl81363 Report Abuse Whatever
silverghost2000 Sophomore Author Victoria Posts:134 Points:383,460 Joined:Jul 2011	Message Posted: Feb 29, 2012 6:04:33 PM Ignore silverghost2000 Report Abuse .
WillyG Champion Author Cincinnati Posts:3,568 Points:909,015 Joined:Aug 2005	Message Posted: Feb 29, 2012 6:02:07 PM Ignore WillyG Report Abuse It ain't gonna happen. It's election year.
TDIdave Champion Author California Posts:5,068 Points:1,226,690 Joined:May 2006	Message Posted: Feb 29, 2012 6:01:06 PM Ignore TDIdave Report Abuse hmmm.
mitchell6597 Champion Author New Hampshire Posts:3,462 Points:728,360 Joined:Apr 2010	Message Posted: Feb 29, 2012 5:59:02 PM Ignore mitchell6597 Report Abuse More speculation by the speculators, and by the way, what are we supposed to do, stock up now?
tampacrvdriver Champion Author Tampa Posts:3,366 Points:715,135 Joined:May 2011	Message Posted: Feb 29, 2012 5:57:58 PM Ignore tampacrvdriver Report Abuse Our country is doomed.
HDFXR1991 Veteran Author Wisconsin Posts:469 Points:141,030 Joined:Sep 2008	Message Posted: Feb 29, 2012 5:55:25 PM Ignore HDFXR1991 Report Abuse Hold on tight this ride is gonna HURT!
Rt118E Champion Author Pennsylvania Posts:9,503 Points:1,371,195 Joined:Jun 2009	Message Posted: Feb 29, 2012 5:55:09 PM Ignore Rt118E Report Abuse $6 would cripple our people in the Suburbs & Country
toadNY Champion Author Albany Posts:7,062 Points:1,517,150 Joined:Apr 2008	Message Posted: Feb 29, 2012 5:52:05 PM Ignore toadNY Report Abuse Fall back in to a Recession? When did we get out of the Bush Recession? So can you say obamas DEPRESSION!
vcsuksu21 Champion Author Oklahoma City Posts:2,478 Points:708,880 Joined:Dec 2010	Message Posted: Feb 29, 2012 5:51:52 PM Ignore vcsuksu21 Report Abuse probably
swrestler Champion Author Grand Rapids Posts:6,150 Points:1,574,850 Joined:Oct 2008	Message Posted: Feb 29, 2012 5:50:30 PM Ignore swrestler Report Abuse The Speculators Are At it Again....
ChuckGVT Champion Author Vermont Posts:6,713 Points:1,696,125 Joined:Apr 2008	Message Posted: Feb 29, 2012 5:50:21 PM Ignore ChuckGVT Report Abuse nobama has not been good for America. 20 Jan 2013 can't come soon enough. Hopefully their will be something left of this country to rebuild on.
C.Carpets All-Star Author Oakland Posts:551 Points:2,092,770 Joined:Feb 2005	Message Posted: Feb 29, 2012 5:49:42 PM Ignore C.Carpets Report Abuse Heard yesterday Obama wants Americas cars to run on battery power & not oil & gas. That's why he has stopped the drilling in the Gulf & won't allow the Pipeline to be built. So if you're NOT blaming Obama for high gas prices, you should be.
ShabbyPA Champion Author Pennsylvania Posts:2,815 Points:680,490 Joined:Nov 2007	Message Posted: Feb 29, 2012 5:48:31 PM Ignore ShabbyPA Report Abuse speculatting again Idiots
GTSHELBY All-Star Author Ottawa Posts:553 Points:957,900 Joined:Mar 2010	Message Posted: Feb 29, 2012 5:44:56 PM Ignore GTSHELBY Report Abuse How can we start a gas war?
30mpg80 Champion Author Lexington Posts:10,067 Points:1,490,780 Joined:Nov 2008	Message Posted: Feb 29, 2012 5:41:27 PM Ignore 30mpg80 Report Abuse Not for a national average
walkingtall Champion Author Toronto Posts:4,014 Points:1,124,605 Joined:Nov 2004	Message Posted: Feb 29, 2012 5:40:32 PM Ignore walkingtall Report Abuse Forget $5 gas,the new worry is $6 gas,the economy is going to really slow down.
sit Champion Author Cleveland Posts:5,215 Points:1,935,645 Joined:Feb 2006	Message Posted: Feb 29, 2012 5:40:03 PM Ignore sit Report Abuse Thanks washington.
rampower80 Champion Author Kentucky Posts:2,059 Points:464,840 Joined:Jan 2012	Message Posted: Feb 29, 2012 5:38:29 PM Ignore rampower80 Report Abuse The country will fall back into recession if we hit the $4 per gallon mark and we won't have to worry about $5 or $6 gas, because the recession will correct the pricing of oil, because this isn't a oil shortage driven market. It is fear and speculative driven.
Beaveronparade Champion Author Hartford Posts:2,109 Points:637,605 Joined:Mar 2011	Message Posted: Feb 29, 2012 5:34:19 PM Ignore Beaveronparade Report Abuse $5 is ridiculous enough & now we have to worry about $6?
jason98122 Champion Author Seattle Posts:1,050 Points:1,248,945 Joined:Apr 2008	Message Posted: Feb 29, 2012 5:32:21 PM Ignore jason98122 Report Abuse I don't understand why we need to worry about 6.00. We should be looking for ways to reduce our consumption and drive effecienies.
hagar2935 Veteran Author Nevada Posts:315 Points:85,155 Joined:Dec 2011	Message Posted: Feb 29, 2012 5:32:01 PM Ignore hagar2935 Report Abuse We have an economy in the USA that is dependent upon the service industry which include travel and leisure. When the cost of fuel peaks at around $6.00, which is very likely with current indications and inflation, our economy will crumble like the proverbial house of cards...............
warlord1 Champion Author Georgia Posts:5,260 Points:1,036,925 Joined:May 2010	Message Posted: Feb 29, 2012 5:31:44 PM Ignore warlord1 Report Abuse ok
bugc Champion Author Boston Posts:15,067 Points:3,007,065 Joined:Mar 2004	Message Posted: Feb 29, 2012 5:31:35 PM Ignore bugc Report Abuse any excuse to manipulate
SBlouch Champion Author San Antonio Posts:8,745 Points:1,862,190 Joined:Apr 2007	Message Posted: Feb 29, 2012 5:31:23 PM Ignore SBlouch Report Abuse There goes the World Economy and another recession.
TheSnowstorm Champion Author Montreal Posts:8,634 Points:1,916,705 Joined:June 2005	Message Posted: Feb 29, 2012 5:30:44 PM Ignore TheSnowstorm Report Abuse At $1.409/litre ($5.33/US gal) currently in Montreal, we are well on our way there. Summer travel and tourism are going to take a real beating.
princessfifi Sophomore Author Detroit Posts:117 Points:58,365 Joined:Sep 2005	Message Posted: Feb 29, 2012 5:28:11 PM Ignore princessfifi Report Abuse ...then we'll hear complaints about declining tourism. can't go on vacation if you can't afford the gas!!!
mandoid Champion Author Colorado Springs Posts:7,314 Points:1,529,935 Joined:May 2008	Message Posted: Feb 29, 2012 5:28:01 PM Ignore mandoid Report Abuse he is getting what he wanted - a slow rise in gas prices to european levels elections have consequences
mecforyou Champion Author Iowa Posts:2,962 Points:1,262,855 Joined:Jul 2007	Message Posted: Feb 29, 2012 5:27:44 PM Ignore mecforyou Report Abuse I don't thing so now but in the next year or two yes
katiek9 Sophomore Author Ontario Posts:229 Points:37,755 Joined:Feb 2011	Message Posted: Feb 29, 2012 5:26:52 PM Ignore katiek9 Report Abuse kk
04coupe All-Star Author Ontario Posts:503 Points:492,965 Joined:Aug 2011	Message Posted: Feb 29, 2012 5:25:47 PM Ignore 04coupe Report Abuse Can I hear $7 or $8. Please
nimpy Champion Author Indianapolis Posts:8,150 Points:1,704,030 Joined:Oct 2007	Message Posted: Feb 29, 2012 5:18:06 PM Ignore nimpy Report Abuse Speculators need to be shot
mikaye Champion Author Cleveland Posts:3,849 Points:868,335 Joined:Jun 2010	Message Posted: Feb 29, 2012 5:18:03 PM Ignore mikaye Report Abuse this is not news. even if the oil supply was chea and plentiful gas companies use any excuse to raise prices. in the years after katrina gas companies raise prices if a storm is even threatening to come near the rigs even if they never come close. they get away with it so it continues
shea33 Champion Author Pensacola Posts:2,378 Points:545,665 Joined:Oct 2011	Message Posted: Feb 29, 2012 5:17:07 PM Ignore shea33 Report Abuse and we talked about these speculators yesterday
Stooker Sophomore Author Ontario Posts:158 Points:70,320 Joined:Dec 2011	Message Posted: Feb 29, 2012 5:15:13 PM Ignore Stooker Report Abuse nice!
jb107 Champion Author New Jersey Posts:9,564 Points:2,624,075 Joined:Sep 2005	Message Posted: Feb 29, 2012 5:10:41 PM Ignore jb107 Report Abuse Why is the cost of gas going up when the cost of oil is staying around $100?
Tucker16 Champion Author Ottawa Posts:1,160 Points:545,500 Joined:Jul 2006	Message Posted: Feb 29, 2012 5:07:34 PM Ignore Tucker16 Report Abuse I can't wait to pay more!!!
southrob Champion Author Tucson Posts:3,615 Points:691,100 Joined:Mar 2011	Message Posted: Feb 29, 2012 5:07:20 PM Ignore southrob Report Abuse dhan so we are not relying on them
sammy518 Champion Author Austin Posts:2,589 Points:539,790 Joined:Dec 2010	Message Posted: Feb 29, 2012 5:06:38 PM Ignore sammy518 Report Abuse ok
PhilMils Champion Author Virginia Posts:6,264 Points:1,186,390 Joined:Dec 2008	Message Posted: Feb 29, 2012 5:06:30 PM Ignore PhilMils Report Abuse Probably not as soon as the article would have you believe.
hybridaholic Champion Author Appleton Posts:8,380 Points:1,559,490 Joined:Dec 2008	Message Posted: Feb 29, 2012 5:05:18 PM Ignore hybridaholic Report Abuse Love my Prius. 50+ mpg.
g747 Champion Author Mobile Posts:4,556 Points:936,595 Joined:Jul 2009	Message Posted: Feb 29, 2012 5:05:00 PM Ignore g747 Report Abuse Mr.President lower these prices quickly!!!!!!!!!!!!!!!!!!!!.
DCbeachbum Champion Author South Carolina Posts:2,647 Points:907,065 Joined:May 2010	Message Posted: Feb 29, 2012 5:04:56 PM Ignore DCbeachbum Report Abuse Here we go again with the check the air pressure in our tires, etc. Okay we got it from the last time the prices spiked. Ask any one with a job and has to drive to get to work, they realize that they are paying more to fill up.
wulf2000 Champion Author Miami Posts:3,037 Points:1,391,780 Joined:May 2005	Message Posted: Feb 29, 2012 5:04:16 PM Ignore wulf2000 Report Abuse I read this article on the Yahoo News. According to Secretary Chu administration is OK with high prices. Here is the link. http://news.yahoo.com/energy-secretary-chu-admits-administration-ok-high-gas-193900713.html
dudleydolittle Champion Author Cleveland Posts:4,445 Points:594,220 Joined:Sep 2011	Message Posted: Feb 29, 2012 5:03:23 PM Ignore dudleydolittle Report Abuse Obama doesn't want to mess up his re-election chances, Only thing he is getting what he wanted but much to soon.
mobil1MN All-Star Author Minnesota Posts:664 Points:1,294,635 Joined:Sep 2007	Message Posted: Feb 29, 2012 5:03:17 PM Ignore mobil1MN Report Abuse Let's hope it happens before the election so the AMERICANS will wake upas to what OBAMA is trying to do to this country of OURS!!!
IUVidiot Champion Author Indiana Posts:3,605 Points:712,360 Joined:Jun 2011	Message Posted: Feb 29, 2012 5:01:23 PM Ignore IUVidiot Report Abuse wow
jwduke1 Champion Author Iowa Posts:15,604 Points:3,068,265 Joined:Apr 2004	Message Posted: Feb 29, 2012 4:59:15 PM Ignore jwduke1 Report Abuse At $6, the economy will really come to a screeching halt!
darkknight1 Champion Author Winston-Salem Posts:4,350 Points:898,760 Joined:Nov 2010	Message Posted: Feb 29, 2012 4:55:50 PM Ignore darkknight1 Report Abuse Good grief!