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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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KAR120CSII Champion Author Oregon Posts:3,282 Points:641,755 Joined:Apr 2010	Message Posted: Mar 2, 2012 12:45:56 AM Ignore KAR120CSII Report Abuse Agree with you Gold -- Big Oil and should care about taxpayers. Our taxes pay their subsidies, our sailors and soldiers protect their ships and wells, and our politicians cover their a****s -- but it won't last forever.
silverghost2000 Sophomore Author Victoria Posts:141 Points:401,775 Joined:Jul 2011	Message Posted: Mar 1, 2012 9:06:13 PM Ignore silverghost2000 Report Abuse .
goldrose1 Champion Author Cleveland Posts:11,076 Points:1,950,580 Joined:Feb 2005	Message Posted: Mar 1, 2012 7:34:51 PM Ignore goldrose1 Report Abuse Many people on this site need to Wake UP! It doesn't matter how much oil we drill here in USA. If Big Oil can get more money for it overseas, they'll ship petroleum products refined from our oil where ever they want. Big Oil charges as much as it can to whoever will pay. If rest of world will pay more to have our refined oil shipped to them, Big Oil will charge them. Why should Big Oil care about US taxpayers?
ssect8 Champion Author Hartford Posts:8,131 Points:2,119,005 Joined:Jun 2006	Message Posted: Mar 1, 2012 3:46:13 PM Ignore ssect8 Report Abuse The USA needs to drill more, but the clueless citizens elected an even more clueless president and democraps into office so they only have themselves to blame.
DrLyon Champion Author Michigan Posts:6,769 Points:1,239,365 Joined:May 2006	Message Posted: Mar 1, 2012 12:11:53 PM Ignore DrLyon Report Abuse Stop the greed....
CDMAuto Champion Author Connecticut Posts:3,932 Points:781,555 Joined:Apr 2011	Message Posted: Mar 1, 2012 12:20:59 AM Ignore CDMAuto Report Abuse Why not just shoot for $7.00 while were at it........ Keep the GREED going for the GREEDY
Beau2140 Champion Author New York Posts:8,436 Points:1,684,860 Joined:Oct 2008	Message Posted: Mar 1, 2012 12:19:56 AM Ignore Beau2140 Report Abuse I hope it won't happen.
sjambok Champion Author Nashville Posts:10,407 Points:2,138,895 Joined:Apr 2006	Message Posted: Mar 1, 2012 12:15:26 AM Ignore sjambok Report Abuse I read something that said the US tapped on some banking system in the UAE to stop doing transactions on the sale of Iranian oil. That should make things more interesting... I wonder if the stations have enough 5's to go around... It's getting close in my temp location on the west coast. The highest gas is 4.49, lowest 4.10 (San Jose)
millerin Champion Author Orlando Posts:2,332 Points:487,315 Joined:Jan 2012	Message Posted: Mar 1, 2012 12:14:25 AM Ignore millerin Report Abuse too much
Wierbe Champion Author Cincinnati Posts:3,892 Points:1,146,815 Joined:Apr 2006	Message Posted: Mar 1, 2012 12:13:59 AM Ignore Wierbe Report Abuse It could happen, but I sure hope not.
Alfied Champion Author Riverside Posts:8,079 Points:1,783,940 Joined:Jun 2001	Message Posted: Mar 1, 2012 12:13:47 AM Ignore Alfied Report Abuse Up and down, up and down, makes the world go around.
LilRedWagonIN Champion Author Indiana Posts:7,912 Points:1,581,110 Joined:Oct 2008	Message Posted: Mar 1, 2012 12:13:39 AM Ignore LilRedWagonIN Report Abuse Newt is promising over a dollar drop. I could promise over half that if federal and state taxes were removed.
heartbroken2010 Champion Author Ottawa Posts:4,490 Points:926,210 Joined:Aug 2010	Message Posted: Mar 1, 2012 12:13:25 AM Ignore heartbroken2010 Report Abuse were so close to $6. CDN up here , it's scary. ( $5.72 CDN a gallon now ) .
RambleOn Champion Author New York Posts:2,385 Points:1,533,800 Joined:Aug 2008	Message Posted: Mar 1, 2012 12:13:03 AM Ignore RambleOn Report Abuse This is the big one Elizabeth. I'm comin to join you. I'll be the one standin next to that great big gas pump and no money to pay for it. -Fred G Sanford (and the "G" stands for "Gas prices killed me")
jimgraham Champion Author Akron Posts:10,515 Points:2,008,425 Joined:Oct 2007	Message Posted: Mar 1, 2012 12:12:33 AM Ignore jimgraham Report Abuse When / if we get $6 gas - Let the revolution begin.
quasar502 Champion Author Lansing Posts:3,723 Points:829,050 Joined:Jan 2011	Message Posted: Mar 1, 2012 12:10:51 AM Ignore quasar502 Report Abuse Horse Puckey. The economy will collapse long before that.
TheSicilian Champion Author Jacksonville Posts:5,519 Points:1,498,200 Joined:Feb 2009	Message Posted: Mar 1, 2012 12:09:43 AM Ignore TheSicilian Report Abuse get rid of obummer and maybe we can get our country back and lower gas prices
pastorpaulcg Champion Author Virginia Posts:3,615 Points:775,785 Joined:Dec 2010	Message Posted: Mar 1, 2012 12:09:19 AM Ignore pastorpaulcg Report Abuse Government wants high prices so we'll buy electric cars (only how will the electricity be produced?)
olive2trvl Rookie Author Philadelphia Posts:68 Points:352,815 Joined:Jan 2012	Message Posted: Mar 1, 2012 12:08:52 AM Ignore olive2trvl Report Abuse Speculation and greed notwithstanding, we in the U.S. pay a comparitively low amount for gass as compared to other nations' drivers. As much as I was to pay as little as possible I just don't get anxious. Fuel in much of Europe, Australia, and other countries alreadu pay $ 6 to 8 per gallon.
LoneGuy Champion Author Lansing Posts:8,615 Points:2,344,720 Joined:Aug 2005	Message Posted: Mar 1, 2012 12:08:52 AM Ignore LoneGuy Report Abuse This seems to be the payoff for voting in "Yes we can" three years ago. I tried to stop it but many followed the Pied Piper. We now provide little of our own oil from federal lands and the offshore is not occupied by US companies because of government control.
HEBster Champion Author Kentucky Posts:8,932 Points:2,401,830 Joined:May 2006	Message Posted: Mar 1, 2012 12:08:48 AM Ignore HEBster Report Abuse Juzz wait till summer...
lesndave Champion Author Texas Posts:3,178 Points:728,855 Joined:May 2011	Message Posted: Mar 1, 2012 12:07:09 AM Ignore lesndave Report Abuse up, up , up and away................. remember to vote!!!!
LuvEd08 All-Star Author Georgia Posts:874 Points:262,075 Joined:Apr 2008	Message Posted: Mar 1, 2012 12:07:04 AM Ignore LuvEd08 Report Abuse Why worry about $6 when we can worry about $10? Someone has a palace to paint. Worrying gets you nowhere, where's a long-term plan of action?
Toppers Champion Author Atlanta Posts:9,157 Points:2,499,370 Joined:Mar 2005	Message Posted: Mar 1, 2012 12:06:56 AM Ignore Toppers Report Abuse Time'll tell...
dancygreen Champion Author Twin Cities Posts:2,193 Points:512,345 Joined:Sep 2011	Message Posted: Mar 1, 2012 12:06:41 AM Ignore dancygreen Report Abuse ridculous
DEG Champion Author Las Vegas Posts:17,750 Points:3,520,455 Joined:Jul 2003	Message Posted: Mar 1, 2012 12:05:53 AM Ignore DEG Report Abuse If Obama is reelected we will be seeing $10+/gallon gas by 2016.
thuathienhue Champion Author Michigan Posts:3,589 Points:660,890 Joined:Jul 2011	Message Posted: Mar 1, 2012 12:05:33 AM Ignore thuathienhue Report Abuse Let's just bankrupt North America. Remember to vote.
regout Champion Author Quebec Posts:3,100 Points:861,380 Joined:May 2010	Message Posted: Mar 1, 2012 12:05:31 AM Ignore regout Report Abuse We will walk and the ecomony will suffer.
kgbellman Champion Author Ann Arbor Posts:2,859 Points:760,515 Joined:Mar 2011	Message Posted: Mar 1, 2012 12:03:17 AM Ignore kgbellman Report Abuse ouch
jetlagAK Champion Author Anchorage Posts:2,256 Points:644,575 Joined:Jan 2010	Message Posted: Mar 1, 2012 12:02:12 AM Ignore jetlagAK Report Abuse If you re-elect BO, gas will be $10/gallon during his second reign of terror. Nobama2012!
BCM1 Champion Author Pennsylvania Posts:1,879 Points:786,420 Joined:Jun 2007	Message Posted: Mar 1, 2012 12:01:09 AM Ignore BCM1 Report Abuse ahhhhhhh
kgbellman Champion Author Ann Arbor Posts:2,859 Points:760,515 Joined:Mar 2011	Message Posted: Feb 29, 2012 11:58:48 PM Ignore kgbellman Report Abuse ouch
min_fuel Champion Author Philadelphia Posts:1,956 Points:725,545 Joined:Jan 2008	Message Posted: Feb 29, 2012 11:58:01 PM Ignore min_fuel Report Abuse Build the Keystone XL and Drill in the USA
PAborn54 All-Star Author Milwaukee Posts:970 Points:654,775 Joined:May 2009	Message Posted: Feb 29, 2012 11:57:44 PM Ignore PAborn54 Report Abuse Finally land a job & soon won't be able to afford gas to put in the car to get to it.
EmperorsFinest Champion Author Chicago Posts:1,564 Points:340,870 Joined:Jul 2011	Message Posted: Feb 29, 2012 11:57:33 PM Ignore EmperorsFinest Report Abuse The price will continually rise until we all refuse to pay it!
gd83goldwinger Champion Author South Bend Posts:1,428 Points:519,980 Joined:May 2011	Message Posted: Feb 29, 2012 11:57:10 PM Ignore gd83goldwinger Report Abuse At the rate things are going yes worry.
scrounger Champion Author Vancouver Posts:9,794 Points:3,069,150 Joined:Mar 2003	Message Posted: Feb 29, 2012 11:56:43 PM Ignore scrounger Report Abuse and then 7 or 8 or more
danreino Champion Author Twin Cities Posts:8,479 Points:1,565,485 Joined:Mar 2008	Message Posted: Feb 29, 2012 11:55:55 PM Ignore danreino Report Abuse Yes of course. And I am the sole owner of the Brooklyn Bridge.
OOXXFF Champion Author Greensboro Posts:3,193 Points:1,106,655 Joined:Sep 2009	Message Posted: Feb 29, 2012 11:54:57 PM Ignore OOXXFF Report Abuse Bad News.
Throroughbred Champion Author Cleveland Posts:1,031 Points:1,210,770 Joined:Jun 2007	Message Posted: Feb 29, 2012 11:54:22 PM Ignore Throroughbred Report Abuse Say it isn't so, PLEASE!!!!
Kaiyne Champion Author Chicago Posts:2,480 Points:500,415 Joined:Feb 2011	Message Posted: Feb 29, 2012 11:48:06 PM Ignore Kaiyne Report Abuse This is bullsh-t! I guess pretty soon we won't be able to pay for food because of the prices set by speculators.
tidalwave3 Champion Author Tallahassee Posts:1,368 Points:1,489,680 Joined:Jun 2008	Message Posted: Feb 29, 2012 11:47:33 PM Ignore tidalwave3 Report Abuse Nobama said in 2008 he wanted $5 per gallon but wouldn't mind $6 per gallon and if he gets elected with that, US is history :(
jessek Champion Author Detroit Posts:2,657 Points:1,280,490 Joined:Sep 2008	Message Posted: Feb 29, 2012 11:44:51 PM Ignore jessek Report Abuse And next week we'll be told to worry about $7 gas!
erik_8 All-Star Author Toronto Posts:534 Points:567,735 Joined:Sep 2011	Message Posted: Feb 29, 2012 11:44:37 PM Ignore erik_8 Report Abuse Wow! Stop driving.
melvindale Champion Author Michigan Posts:1,438 Points:351,230 Joined:Jun 2011	Message Posted: Feb 29, 2012 11:40:09 PM Ignore melvindale Report Abuse Wow! Almost exactly my comments from a few days ago.
cloud23465 Champion Author Virginia Beach Posts:8,445 Points:1,644,675 Joined:Aug 2008	Message Posted: Feb 29, 2012 11:34:04 PM Ignore cloud23465 Report Abuse My GOD #&%&& take that psyco #%&*@ in iran out and be done with it!
tippybuddy Champion Author Ontario Posts:1,523 Points:207,740 Joined:Feb 2011	Message Posted: Feb 29, 2012 11:33:45 PM Ignore tippybuddy Report Abuse again I agree with treeguy...we're already over 5.00 a gallon in Ontario and likely other Cdn cities...I still blame the stock market people
boldrph Champion Author Topeka Posts:18,535 Points:3,479,340 Joined:Oct 2002	Message Posted: Feb 29, 2012 11:31:44 PM Ignore boldrph Report Abuse economy improving, demand increasing
mgune9 All-Star Author Dallas Posts:914 Points:200,395 Joined:Feb 2012	Message Posted: Feb 29, 2012 11:28:39 PM Ignore mgune9 Report Abuse This is not "supply and demand". The rules put in place to gurad against speculators still aren't in place and wall street is looking to block ever seeing them started. These prices are "greed" pure and simple. The future contract owners never intend to take delivery - they are looking to "turn" them over for profits only.
LegoVasavouchi Champion Author Oklahoma Posts:1,659 Points:114,390 Joined:Apr 2011	Message Posted: Feb 29, 2012 11:28:30 PM Ignore LegoVasavouchi Report Abuse Fascinating.