27 Apr '12, 12am

Gas may hit $6 mark, or maybe pump prices have peaked

Gas may hit $6 mark, or maybe pump prices have peaked

Might want to buy some stock in whatever company you think makes the most fuel-efficient cars. The price of U.S. gasoline could hit the $6 mark if international sanctions are imposed on Iran and shut down the Strait of Hormuz, through which much of the world's oil is shipped, the Chicago Tribune reports, citing remarks made by IHS chief economist Nariman Behravesh at an event sponsored by the National Automobile Dealers Association and IHS. Sudan, Syria and Yemen are among countries where there have been oil-supply disruptions, driving up the price of gas to its current levels. And, with 20 percent of the world's oil coming from the Persian Gulf and fears of Iran supply disruption, there's about a 20 percent chance gas prices will approach the $6 a gallon mark, and that could happen by early next year. According to Behravesh, such a jump could cause alt-fuel vehicle sales ...

Full article: http://green.autoblog.com/2012/04/26/gas-may-hit-6-mark-o...

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