Gasoline could average $3.75 a gallon across the U.S. in a few months, pushing the price in California up and over the $4 mark, energy analysts said Wednesday.
Several factors point toward a nightmarish spring for motorists, they said, including persistently strong crude oil costs and the fact that the traditional December drop in pump prices didn't materialize.
"If anyone expects gas to be less than a new record, they are not thinking," said Fadel Gheit, senior energy analyst for Oppenheimer & Co. "There is no question it will be much higher than last year."
Americans will start 2008 paying about 65 cents more a gallon than they did in January 2007, according to the forecasts, and by April could see self-serve regular selling for $3.50 to $3.75 a gallon.
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