Analysts warn of $4 per gallon gas prices this spring and close to $5 per gallon by summer

January 19th, 2012 by

Are you ready for $4 a gallon gasoline? Analysts say we could see record high prices near $5 per gallon Memorial Day weekend.

Tom Kloza, Chief oil analyst for the Oil Price Information Service expects the U.S. springtime average to be $4.05 for self serve regular. is predicting several U.S. cities will see record high prices this spring.

Consumers planning to buy fuel efficient cars this summer, may want to move their purchase forward and take advantage of the current Honda incentives on these vehicles, like the:

Honda Accord MPG: 23 City, 34 Hwy
Honda Civic MPG: 28 City, 39 Hwy
Honda Fit MPG: 28 City, 35 Hwy
Honda CR-V MPG 23 City, 31 hwy
Honda Insight MPG: 41 City, 44 Hwy
Typically when fuel prices rise, demand for fuel efficient cars increases resulting in higher transaction prices and less incentives from the manufacturers. In years past we have witness the price of fuel efficient used cars increase as the price of oil climbs to higher than normal levels.