There are still more rumors Nebraskans will be paying $4-plus for a gallon of gas by summer. Gregg Laskoski is the Senior Petroleum Analyst at GasBuddy.com believes those rumors to be true. He points to the situation in the Middle East with Iran as the culprit however, there are other signs fuel prices are headed upwards. He says anytime gas prices increase at the start of a new year, that is a signal that trend will continue.
Laskoski says the single largest factor we’ve seen in fuel price hikes is speculation in the commodities market. Looking back to 2008, gas prices reached an all time high and crude oil hit a peak of $147 a barrel. There was wide speculation that was fueled by the weakness of the U-S dollar. Laskoski says there is no common sense regulation in the commodities market. When oil is traded overseas it is exempt from US regulations.
Laskoski says TransCanada’s Keystone XL oil pipeline could shake things up. He says this could be a game-changer because anytime the U-S can get its supply of oil and gasoline from other locations besides the Middle East that is a positive thing.
Laskoski wouldn’t be surprised to see gas prices in Nebraska top $4.10 to $4.15 a gallon by summer.