21 News Now, More Local News for Youngstown, Ohio - Experts say brace for high gas prices this year

Experts say brace for high gas prices this year

YOUNGSTOWN, Ohio - After a year of high gas prices in 2011, what will 2012 bring?

The latest forecasts call for even more pain at the pump.

Many customers say they won't even look at the second line on the gas pump because it shows how little their getting for how much their paying.

The average price for gas has gone up 12 cents a gallon over the past three weeks.

Petroleum analyst Patrick DaHann with www.gasbuddy.com says the market right now is nervous over the threats being made by Iran.

"People aren't really sure if there's going to be a blockade or any sort of supply issue, but they're kind of factoring that in, that there will se some sort of issue that arises from this Iran situation, DeHaan said. 

Prices also went up after Congress recently declined to renew a five cent per gallon federal subsidy for ethanol. Ethanol makes up 10 percent of most gasoline-based motor fuel.

DeHaan says the forecast for supply and demand this summer is uncertain and we could see prices top four dollars a gallon.

"There's certainly potential for 2012 to go down as the year we'll see the highest gas prices ever." DeHaan said. 

Consumers say higher prices hit close to home and can be life altering.

Terresa Sause of Lowellville said, "I cut back as much as I can when it gets that high,  I just can't afford it."  

Justine Verostko of Youngstown said it basically grounds her. " I couldn't afford to drive, I would have to stay home and start walking.

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