Feds Release Forecast on $4 Gas Prices

WASHINGTON (April 8) - Retail gas prices could climb as high as $4 a gallon this summer, but prices at such lofty levels will make many Americans think twice about hitting the road this summer, the Energy Department said Tuesday.


U.S. gasoline prices could "cross the $4 per gallon threshold" in some parts of the nation this summer, a federal agency projects, although it says that most of the country will see prices that peak around $3.60 a gallon. The high prices and lackluster economy will also reduce summer demand for gasoline, the forecasters say.