Gas Prices Climbing Toward $5 Per Gallon

CHICAGO (CBS) – At one time, $5 per gallon gas seemed like a farfetched idea, but that is no longer the case.

As CBS 2’s Roseanne Tellez reports, as of Monday, the average price for a gallon of regular unleaded gasoline in the Chicago area is $4.11, compared with $3.71 a month ago, and about $3.10 a gallon at this time a year ago.

Some experts say $5 per gallon gas is possible by Memorial Day-or sometime in summer. Others caution that reaching that mark is unlikely over the next six weeks. In Chicago, the prices keep rising to near-record levels–with no relief in sight.

Right now, oil markets are so skittish that records set in 2008 could fall.

Read full story here

1 Comment

  1. Peter B

    April 25, 2011 at 11:27 am

    Yep…And it will keep on rising.
    Here in Denmark we’re now at approx. 10$ per gallon.
    (12.48 danish kroners per litre)
    Reference:
    http://fdmbenzinpriser.dk/searchprices/2/

    I know how you feel.

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