

Gas Prices Climbing Toward $5 Per Gallon - chailatte
http://chicago.cbslocal.com/2011/04/11/gas-prices-climbing-toward-5-per-gallon/

======
mgkimsal
Interesting 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
_This 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.

