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Gas Prices Climbing Toward $5 Per Gallon
- mgkimsal 16y agoInteresting how the media pundits call "$5/gallon" a few months back, and somehow we move towards that. I'd like more people to predict $2/gallon, and perhaps we'll move in that direction. This seems more to do with the USD value than pure supply/demand/inventory. But I may be wrong.
- byoung2 16y agoThis seems more to do with the USD value than pure supply/demand/inventory. But I may be wrong. I sold my Mustang back in January because I predicted gas would be $5/gallon within 18 months. At the time my reasons were based on the possibility that the revolutions in Tunisia and Egypt would cause unrest in the Middle East. As it turns out, I was pretty accurate in that assessment. Additionally, the continued weakness in the US dollar isn't helping, and Japan's (and the rest of the worlds) inevitable short term shift away from nuclear power will only put more strain on the world's oil supply. $5 a gallon will be a reality sooner than we think. If anything, the US may ease pressure by releasing from the strategic oil reserves, but eventually we'll have to pay.