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2012 gas prices could be most expensive in history

Hank Silverberg,

WASHINGTON – Remember all those predictions of lower gas prices for the year? Well, they were all wrong.

“Six months ago we were predicting that gas prices were going to be below $3 by Labor Day. Now, in many parts of the country, it may be at $4 a gallon,” says AAA’s John Townsend.

Townsend says domestic and international politics remain uncertain, as does the economy, and that makes most predictions unreliable.

Unleaded regular in the D.C. Metro area averages $3.71 this week, up from $3.69 last week and $3.59 a year ago.

Townsend says 2012 may end up as the most expensive year for gasoline in history.

“We may end up paying more for gasoline then we ever have in U.S. history this year,” he says. “Many pundits and prognosticators really don’t know what the devil they are talking about.”

Here is a breakdown of prices this week:

Current and past gas prices from AAA

Current Week Ago Year Ago
D.C. Metro $3.71 $3.69 $3.59
D.C. Only $3.93 $3.98 $3.84
National $3.72 $3.69 $3.59

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(Copyright 2012 by WTOP. All Rights Reserved.)

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