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Posted: Friday, 09 May 2008 8:10AM

Energy Department changes focus on gas prices


Gas prices in the New Orleans area could go up this summer, even higher than expected.

Louisiana Triple A's Mike Right says as recently as this week, the U.S. Department of Energy raised it's forecast of what gasoline prices might be going into the summer driving season.

He says, "They now anticipate that the national average for a price during the month of June will be $3.73 a gallon."

Right says that's about 13 cents more a gallon than the department was predicting about six weeks ago.

He says gas prices have traditionally gone up in the spring, ahead of the summer driving season.

Right says, "If crude oil prices continue above $120 a barrel, I'm sure that the Department of Energy will revisit those estimates."

Listen to Louisiana Triple A's Mike Right talk about summer gas prices.

Listen:

   

Right says he's not sure what the price will be this summer, and in fact he says he's not sure that anyone knows what gas prices will do or how high they'll go.

He says there will likely be a spike in the prices of crude oil, and therefore gasoline, but
when that spike will happen, Right says he has no idea.

Today the average for a gallon of regular in New Orleans climbed to a new record high of $3.56 per gallon.

   

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