Purdue Expert Predicts Higher Gas Prices This Summer
A Purdue economist predicts gas prices will be a bit higher this summer compared to a year ago.
Wally Tyner says the cost for a gallon of regular unleaded could be as much as $3.90 a gallon.
He anticipates a decline in gasoline consumption along with an increase in refining capacity in the United States.
But Tyner says even as the U.S. uses less gas, countries like China and India are using more.
And he cautions that prices could go higher over short periods if supplies are disrupted anywhere in the system.
Tyner says refinery outages or political instability in areas such as Ukraine could still "rattle the market."