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The New Year Could Bring Record High Gas Prices

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Dec 27, 2007 4:38 pm US/Eastern

The New Year Could Bring Record High Gas Prices

MIAMI (CBS4) ― Expect to pay a lot more for gas in the coming year.

Energy analysts for Oppenheimer & Company said the price at the pump could averge $3.75 a gallon by spring.

In January, the price at the pump for a gallon of unleaded regular will be 65-cents more than than what it was at the beginning of the year. By April, the price for a gallon of self-serve regular could rise to $3.50 to $3.75 a gallon.

Several factors point toward the increase including consistently strong crude oil prices and the traditional December drop which at the pump which never occurred, according to the Los Angeles Times.

Currently, the average price for a gallon of regular unleaded in Miami is $3.11. It's a little cheaper in Ft. Lauderdale at $3.09. Nationwide, a gallon of unleaded is averaging $2.98; a sharp increase over last year's average at this time of $2.34.

To find the lowest prices in your neighbor check out CBS4's Eye On The Pump.

(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)

© MMIX, CBS Television Stations Inc. All Rights Reserved.