The price of unleaded gasoline in the U.S. will likely hit a nationwide average of $4 by this summer, said Dan Dicker, oil trader and author of "Oil's Endless Bid." The last time prices topped $4 was 2008 and Dicker said there's a one in three chance that gas could reach $5 a gallon.
If gas prices do head to those lofty levels, that could put a crimp in the economic recovery as consumers will likely cut down on spending if they have to pay more to fill up their cars.
via money.cnn.com
Nothing like high oil prices (input prices rising due to political tensions between Iran and a bunch of countries that rely on oil) and increasing demand (it's almost spring--time to drive) to give us our annual late winter gas prices are rising story.
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