Prices At The Pump May Rise In 2012


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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  • by 1234 Location: abcd on Jan 18, 2012 at 09:49 AM
    drilling off the coast is very dangerous. The BP oil spill in the Gulf of Mexico killed wildlife, destroyed coastlines and damaged local economies. Despite pleasant weather and calm waters, cleanup still took months and the effects will linger for years. These waters are home to threatened polar bears, endangered bowhead whales, walrus, seals, birds that range through every state in the Union, and fish. Despite the biological richness of the Ocean, much basic scientific data about the region, like what is important habitat for species like bowhead whales, walrus, birds, and fish, is lacking or outdated.
  • by TRUTH Location: COLORADO SPRINGS on Jan 16, 2012 at 05:03 PM
    Actually.the United States gets 80% of it't oil from Canada and Mexico....but..whatever.
  • by Andrew on Jan 16, 2012 at 04:20 PM
    I suppose I will never understand this battle for oil. “We” have tons of reserve in North America. Why the oil from this continent. It would help the economy, create jobs, and allow “us” to regulate the need for this precious commodity?
    • reply
      by Anonymous on Jan 16, 2012 at 06:00 PM in reply to Andrew
      The oil thing is a diversion. When people say we are really fighting wars for oil it makes them think that they have stumbled upon the truth. I'm sure it runs a lot deeper than oil.
  • by Jon Location: Colo Springs on Jan 16, 2012 at 09:41 AM
    Is there any prediction more likely than this one?
  • by Bradman on Jan 16, 2012 at 08:09 AM
    You have got to be kidding me! Prices are still too high.
  • by Mayor Ryan on Jan 16, 2012 at 08:02 AM
    War propaganda in Iran is something typical republicans love. Hold tight Ron Paul...
    • reply
      by Lorelei on Jan 16, 2012 at 01:43 PM in reply to Mayor Ryan
      @Mayor Ryan:thank you for seing through the blame game! The only ones to blame at this moment are the big oil corporations who buy politician and get tax breaks and ALL governments around the world for not promoting greener alternatives.
  • by Nath Location: Colo Spgs on Jan 16, 2012 at 07:52 AM
    Couldn't ask for a better arguement in favor of building the Keystone XL pipeline extension and domestic drilling.
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