Prices At The Pump May Rise In 2012

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Optimism about the economy could actually have a negative impact on your wallet this year, economists are predicting.

According to CBS, the recovering economy is pushing oil prices higher than they have been in almost a year, the result of which could then in turn ironically stifle recovery.

U.S. gas suppliers have reportedly been stocking up on gas, anticipating an increased demand as Americans begin to feel financially stable enough to spend again, which could prevent an immediate price increase. Nonetheless, economists predict Americans will see prices rise throughout 2012.

Turmoil in the Middle East, as Iran threatens to block the Strait of Hormuz if hit with new sanctions over its nuclear program, could potentially limit supplies in 2012, another factor that could push the prices at the pump back up.

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