According to reports I've seen via Bloomberg TV and now CNN, it's pretty clear that if you like driving you should start getting prepared to pay more at the pump. As gas futures and the price of crude oil has risen approximately 10 percent across both entities, it's only a matter of time before the buck gets passed to you, the consumer.
At least that's what the latest industry insiders are saying.
And it wont be merely pennies we're talking. Word on the street seems to place an estimated rise to the effect of 25 cents. That would make for a pretty significant jump.
Hopefully we stay away from the five dollar mark but there's no telling how bad sentiment will get given the latest conflicts happening in the Middle East.
Prices of oil and gasoline futures have increased sharply in July, according to Gasbuddy.com chief oil analyst Tom Kloza. And these prices will inevitably be passed on to consumers in the coming weeks.
The price of unleaded gasoline could jump by at least 25 cents per gallon in August, said oil trader Dan Dicker, author of "Oil's Endless Bid..."
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