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Analysts warn gas prices could hit $3 by Spring Break

by Adrianna Hopkins

WHAS11.com

Posted on March 10, 2010 at 10:41 PM

Updated Wednesday, Mar 10 at 11:57 PM

We've been down this road before leading to near $3 gallon gas prices.

Analysts say it will happen right around the time of Spring Break which already has some people annoyed.

It is extremely annoying especially when every other expense people have continues to rise.

But people we talked to said there's nothing you can do but pay.

Many people are asking, haven't we already been through this steep hike in prices?

"I hope not. This is ridiculous. I got this big car right here and it takes a whole lot to fill this car up," said Vincent James.

Hoping may not be good enough. Wednesday, gas prices hit $2.79 in southern Indiana and downtown Louisville.

But some analysts say if crude prices hit near $90 a barrel, we could pay more than $3 a gallon at the pump. But Roger Boyd with AAA says don't buy into the doom and gloom just yet.

"I'm going to say that we're going to see somewhere around $2.75 consistently for most of us. If we're going to see a fluxuation... yeah, unfortunately, we probably would see $3 before we'd see $2.50," said Director of AAA, Roger Boyd.

"It doesn't affect me as much because I ride the cycle as much as I choose to. Only in good weather. But it doesn't hit me hard at all. Probably about $7 to fill this up," said Ramon Lane.

"I am not ready for that...  not at all," said Vincent James. "There's nothing we can really do about it. We've just got to pay the price."

And Roger Boyd says while you may feel powerless at the pump, consumers really aren't.

"If I were the person pricing gasoline, I'd be very aware of the fact that people may be comfortable with $2.50, $2.75. But as we've seen right now, someone comes out with a report of $3/gallon, people start getting interested again, phones start ringing and we'd love to tell them 'conserve, conserve, conserve,' because that's where our power as a consumer comes from."

Some analysts say we could see prices increase slowly but steadily climb toward $3 by summer.

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