Experts say gas prices could jump significantly this summer - WTVM.com-Columbus, GA News Weather & Sports

Experts say gas prices could jump significantly this summer

COLUMBUS, GA (WTVM) -

It is something some people wish they could live without: gas or gas prices.

Right now, what you pay at the pump in the Columbus area is a little more than $3 a gallon, but some experts say you could see that double this year!

Filling up your gas tank can make you cringe, but some experts are saying that by this summer it could even break your wallet.

GasBuddy specializes in gasoline price predictions.  The company reports the rise in gas prices has slowed in the last week lingering around $3.30 or more per gallon as oil prices have temporarily stabilized.

However, that may not be for long.  The company's experts predict a roller coaster in prices throughout the year with a peak of up to as much as $4.60 per gallon by Memorial Day in our area.

What does that mean for you?

Right now, if you need to fill up a 15 gallon car at a local gas station with regular unleaded gasoline, you are paying about $50 at the pump.  According to GasBuddy, by the beginning of the summer, it could be almost $70.

For those with SUV's that hold 28 gallons, right now, it is about $92 to fill your tank.  You could pay up to $130 on Memorial Day weekend with GasBuddy calculations.

So, what is to blame?

GasBuddy points partly to instability in Iran especially after the country threatened to shut down a key oil passageway.

Another potential reason: Keystone XL.  It a proposed new pipeline that would run from Canada to Texas could shake up prices in either direction.

Experts say the rise in prices could break records across the country.

GasBuddy says their calculations are only an estimate and not an absolute of what will happen.

However, the company says it accurately predicted gas prices for Memorial Day in 2011 as early as this time last year.

To see an outlook of this year's gas prices, check out the link below: http://www.scribd.com/doc/78052696/gasoline-forecast-media

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