The old saying goes: "Gas prices shoot up like a rocket and come down like a feather." Gas prices can and will go higher, period.
"This is a case of 'we're gonna have to ride this out."
Triple A's Don Redman says with the uncertainty overseas and inflation at home there's no telling how high the price of gas can go.
"This is uncharted territory and we're seeing the markets react," Redman says. "In that case we're seeing crude oil sell over $110-a-barrel."
Redman says the Triple A is taking precautions:
"Triple A is preparing its members to budget for $4-a-gallon. It could very well go there. Now we have not seen $4-a-gallon since 2008 when the price of oil was $150-a-barrel!"
Redman is very realistic in his prognostications about where the market is in the immediate days and weeks.
"This is certainly far from over whatever the situation is in Russia and Ukraine," he cautions. "I think it's very prudent right now to at least budget in the coming weeks or months that we could be looking at $4-a-gallon in Louisiana."
With inflation on the march in the United States and energy policy a major dividing point between the two parties in the government, it's clear to Redman that the days of two-dollar-a-gallon gas are in the rearview mirror.
"I think that things are probably going to be worse in the market before they can get better. But again I would just budget for the worst-case scenario and that being $4-a-gallon for gasoline…"
