What Will Gas Prices Be in 2012?

By: Todd Corillo Email
By: Todd Corillo Email

Virginia drivers paid a record amount for gas in 2011, averaging over $4,500 to fill up during the year.

However, a peak gas price actually wasn't hit during 2011.

GasBuddy.com Senior Petroleum Analyst Gregg Laskoski said the peak average price in the United States was hit in July of 2008.

Those prices then steadily declined after July of 2008.

Laskoski says the reason 2011 was so expensive is because prices were consistently high for a long period of time averaging between $3.50 and $3.70 per gallon of regular unleaded gas.

As far as 2012 is concerned, Laskoski says there's no way to predict how long prices will stay high, but GasBuddy is predicting a hike in prices.

"We're expecting that when prices peak that the peak level will be anywhere from 80 cents to a dollar 20 more than what people see today," Laskoski said.


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