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$5 Gas In 2012, Ex Shell President Predicts

Oil Prices

First Posted: 12/27/10 05:21 PM ET Updated: 05/25/11 07:20 PM ET

CNBC:

NEW YORK (CNNMoney.com) -- The former president of Shell Oil, John Hofmeister, says Americans could be paying $5 for a gallon of gasoline by 2012.

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

Read the whole story: CNBC

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Filed by Nicole Hardesty  |