Even if $5 per gallon is not in our immediate future, it would appear that the mainstream media is working to get the American populace to mentally prepare for such a reality.
Various news agencies are reporting that some analysts are saying that we could see $5 per gallon gasoline prices in 2012. Such sentiments are quite ominous for the US economy going forward. Whereas many households are currently being stretched to the limit by rising food prices, additional fuel costs could very well end up significantly harming economic growth in the US. If gas prices rise in 2012, at that point we can probably forget about an economic recovery.
On Jan. 2, 2012, both CBS Baltimore and the ABC affiliate in Baltimore in separate stories discussed the prospects of higher gas prices. CBS Baltimore: “Just this weekend, [President Obama] signed new sanctions against the country of Iran. Now, Iran is firing back with a threat that could send gas prices higher than ever. Prices at the pump already have drivers in pain.” ABC News Baltimore: “GasBuddy analysts are expected to release their 2012 projection in the next two weeks, but early indications shot this year may see the highest ever recorded prices at the pump, and has the potential to reach $5.00 per gallon if conflict arises in Iran.”
