Five dollar a gallon gas could be here by 2012 - KMOV.com

Five dollar a gallon gas could be here by 2012

(KMOV) – Five dollar a gallon gas could be headed our way by 2012, says Jon Hofmeister, the former president of Shell Oil. 

Hofmeister says that is the worst case outcome resulting from a predicted spike in global demand for oil.

Other analysts say they suspect such a price could happen this decade, but not as soon as 2012.

At the moment, gas prices are about 30 cents higher than they were this time last year.
 

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