GO
Loading...

Gasoline Prices Continue to Move Unpredictably

Thursday, 31 May 2007 | 12:21 PM ET

At least one thing is certain about gasoline prices: no one knows which way they're headed.

Two experts offered very different predictions on "Morning Call" about what people will be paying at the pump this summer.

"If you are fortunate enough not to live in the upper Midwest or in California, we could see retail prices down as low at $2.75 by the end of the summer," said Kevin Lindemer of Global Insight, a provider of economic and financial information about countries and industries.

Lindemer said that gas prices have reached their peak due to more gas supply and increase in refineries.

Oil & the Economy
Discussing the impact rising oil prices may have on the economy with Michael Lynch, Strategic Energy & Economic Research president; Kevin Lindemer, Global Insight executive managing director; and CNBC's Mark Haines

But President Brian Hicks of Wealth Daily, an e-letter focusing on energy and the economy, thinks gas prices will continue to increase.

Hicks believes that if we have an average hurricane season with category 3 or 4 hurricanes, the supply in the Gulf will be disrupted, causing gas prices to rise to $4 and above.