Gas Prices to Spike 60 Cents or More by May - DatelineCarolina

Gas Prices to Spike 60 Cents or More by May

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Gas prices expected to hit $4 by May 1. Gas prices expected to hit $4 by May 1.

By: Krista Bagley

Gas prices have soared 19 cents in the past four weeks, and they could spike another 60 cents or more by May.

Regular unleaded gas is now nearly $3.50 per gallon, causing local drivers like Justin Razmic to wonder why.

"I mean, I feel like the war is kind of dying down, so I feel like we shouldn't be paying more for gas," said Razmic.

Others are being forced to change their driving habits.

"I'm going to have to start driving less, and start consolidating my trips," said Sterling Bird.

Gas prices are on the rise, and experts say they could reach $4 per gallon, come May.

"The national average was $3.25 gallon on December 31, the highest price level we've ever seen and because we're starting the year at such a high level. That's the key reason why we're predicting the higher prices for 2012," said Gregg Laskoski, Senior Petroleum Analyst at Gasbuddy.com.

Laskoski says he predicts prices will jump to $3.75 and then to $4.20 a gallon by Memorial Day.  He says that's partly due to the federal mandate to have the summer blend of gasoline available by May 1.

"That forces all of the refineries to basically start ramping up at the same time and that creates a bit of a bottleneck on the supply-side at the same time consumer demand is starting to increase in the US," said Laskoski.

Regardless of the reason, drivers will have to prepare for the spike in prices, come May. 

For more information on South Carolina's Gas Prices, check out AAA's website.

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