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Posted: January 20, 2015

Oil expert: Get ready for $5/gallon gas

By Mike Denison

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Gas right now is as cheap as it's been in years.

But a former oil executive told USA Today it won't be that way for long. 

John Hofmeister originally predicted gas would hit the dreaded $5/gallon mark in 2012 (it peaked around $4/gallon). But now he says demand is growing and production is falling short. 

"People were worried about the global economy, and prices went to $30, $40 a barrel, and just a matter of months later, it was back to $100 a barrel," he said, referring to the rebound after the Great Recession.

Read USA Today's full story.

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