So far we’ve seen gas prices inch their way up from the $1.00 a gallon from a decade ago to the now current borderline $4, at least that’s the case for the US. Many media outlets and people have expressed concern over this and pledge to boycott petroleum companies if this happens but the fact of the matter is that we need gasoline and as long as the market in the US and across the world demand it, it is unlikely the rise in prices will end. On that note, several analytical energy industry trackers have gone on record to say you’ll appreciate the $4 a gallon price when it hits $10 two to three years from now. By the way, it’s more likely it’ll happen than you think.

Originally, $4 a gallon was predicted to occur during the summer when demand for the product rises but many places in the US have already hit that mark. This is because the barrel of crude is currently selling at $120 a barrel, over twice the price is sold for at the same time last year. Unless the trend stops, it is very likely the cost of the barrel will hit $200 within a couple of years. This prediction was made by analysts Alan Gaines, from Dune Energy, and Sean Brodrick, from Weiss Research in Florida.

The prediction should be taken seriously considering Gaines correctly predicted the cost of the barrel would hit $100 in 2008, pushing the cost of the gallon to $4. We hope the government figures out a way to stop the cost from rising, The surge in price has caused some economic hardship to families that have to drive far from home to work. Hopefully though, the rise in prices will make people make more environmentally conscience decisions, convincing them to either drive less or not at all.

One thing to mention though, most Europeans already pay the equivalent of $9 a gallon for gas. Even with the exchange rate taken into consideration, and the strength of the US dollar, Europeans are already paying more at the pump than the US. Fact of the matter is that the rise in the price of crude shows no sign of stopping so you might as well hold onto your seat because it’s going to be a bumpy ride.

[Read]

• Link: Gasbuddy.com – helping you find the best prices in your area!
• The rising cost of gas claims a new victim: old gas pumps
• One man’s solution to high gas prices? Personal oil wells!
• Brothels also feeling the gas price pinch
• Whoops! Gas station accidently sets price to 35 cents, people go nuts