Prediction on gas prices

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(KTSF by Jessie Liang)
 
Gas prices are still rising. One driver has a car but doesn’t want to drive it. She says, “If I have to pay almost 5 bucks for a gallon, I’m not going to do it. I mean that’s lunch.”

KTSF

It’s  also a big burden for college students. One student says, “I commute to school. It’s hard on the pocket.” Another student says that he has to buy a 2 dollar sandwich to save money.
 
Professor and Director of Energy Institute at the UC Berkeley, Severin Borenstein, predicts gas prices most likely won’t go up to $5 a gallon. He says, “The only way that would happens is if we see a major battle in the Middle East. I think more likely we’re going to stay around where we are now near $4 a gallon for most of  the summer.”
 
Borenstein says the major factor keeping gas prices high is the global demand continuing to increase especially in developing counties such as China and India. He adds  that to invest in renewable energy is not a cost-effective way to reduce gas prices, but using domestic resources with new techniques is more feasible, for example, technologies for converting coal and natural gas to a gasoline equivalent.
 
“Over the next 5 or 10 years, the price of oil is going to be driven by demand for oil, and by new discoveries and new technologies,” says Borenstein.
 
What consumers can do to save money on gasoline? Borenstein suggests, “Buy a more fuel efficient car. You’re not going to change the price of oil very much, but if your car gets twice as good gas mileage that’s like cutting the price of gasoline in half.”
 
(Copyright 2012 KTSF.  All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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