Sorry folks! It looks like higher gas prices are coming again. There are a couple of reasons for this.
Firstly, oil has increased from the low $30s in January to $48.25 today, a roughly 60% increase; secondly, sales of oil have increased by 25% during the same period; and, finally, OPEC may cap its production which would drive the price of oil higher while, at the same time, stabilize prices but at higher levels.
If you are watching the bottom line, don’t be buying any gas-guzzlers anytime soon!