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|Gas prices could hit record high this summer||| Print ||
|Written by Danielle Perry|
|Monday, 02 April 2012 10:17|
Fuel analysts around the world are predicting that gas prices could skyrocket to record breaking costs in the summer of 2012.
Experts report that factors such as tension with Iran - the third-largest oil exporter - is a significant factor behind the fluctuating market, with the threat $5 per gallon (3.78 litres) becoming a reality within months.
"It is really an issue of refinery capacity and the amount of refined petroleum out there. And ultimately the switch to summer blends of fuel."
However, despite public outcry in objection to globally rising costs, prices are not yet high enough to have a drastic effect on Americans’ behavior, reports The Economist.
Travellers planning to spend time behind the wheel this summer can do small things to save fuel while driving, including things like minimizing the use of air conditioning, keeping tires properly inflated and avoiding idling, reports GasBuddy.com.
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