Gas prices set new records, $6 possible

Monday, April 25, 2011
By Paul Martin

Dayton Business Journal
Sunday, April 24, 2011

Gas prices across the country continue to set new records, with stations in some states starting to charge $5 per gallon. But some oil analysts say $6 gas could happen this summer, sparking an energy crisis that would be bad for the economy.

In an interview with CNBC this week Richard Hastings, strategist at Global Hunter Securities in Charlotte, N.C., said a weak U.S. dollar is contributing to rising gas prices and that damage to refineries from a bad hurricane could force prices to more than $6 per gallon this year.

Gas stations in states such as California, Hawaii and Florida have already started charging more than $5 per gallon in isolated cases, and reported that a gas station in Orlando, Fla., was charging $5.69 per gallon of regular gas. That currently is the highest price per gallon in the country.

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