Gas Prices to Reach $5 per Gallon

, Posted: Tue, February 21 2012 at 8:09 AM, Updated: Tue, February 21 2012 at 8:10 AM

The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by this summer.

In an interview with Platt's Energy Week Television, Hofmeister predicted gasoline prices will spike as the global demand for oil increases.

The AAA auto club reports the average price of a gallon of gasoline in Oregon is $3.66. That's up 14 cents in a week.

Leave a Comment:

Note: Comments with profanity are automatically filtered and hidden. Verbal attacks towards others via our comments section will not be tolerated.