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How $4 a Gallon Would Hit Your Wallet
Apr. 25--If watching the price of gasoline inch closer to $3 a gallon causes a sense of uneasiness, the latest speculation could be enough to cause cold sweats.
Think $4 a gallon. That's the bottom line from a Bloomberg news agency story by reporter Joe Carroll that's getting a lot of attention this week.
"Whether it's $50 to fill up your Prius or $130 for the Ford Expedition, $4-a-gallon gasoline is coming to a pump near you," he wrote. Officially, government forecasters are talking about a peak near where prices are now. But they are quick to caution there are any number of things that could make that prediction change, from hurricanes to military action. Simply put, U.S. Energy Secretary Samuel Bodman told Bloomberg, higher prices are "a legitimate worry. ... We're in a very tight situation."
Gas that cost $4 a gallon would be a $1.13 jump from today's average price. The cost to consumers would depend on their car and their driving. Below are typical fuel mileage figures for different-size vehicles and how much more a driver would spend if gas prices rose to $4 a gallon based on typical fuel-consumption estimates by the U.S. Environmental Protection Agency. Note: Smaller numbers represent the cost of each trip at $2.87 per gallon.
Compact/Mid-Size/Full-Size/Pickup/SUV/Hybrid
City mpg 20 19 17 16 18 60
Highway mpg 30 28 25 20 24 51
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