Expect $4 gas through 2009, U.S. Dept. of Energy official says

By: KXII-TV Staff Email
By: KXII-TV Staff Email

WASHINGTON -- The U.S. Department of Energy announced Wednesday morning gas prices are expected to stay around $4 a gallon through next year-- at least. Guy Caruso, head of the department's energy information administration, told a House hearing in Washington that crude oil prices are likely to average $126 a barrel next year, $4 higher than this year.

Caruso said gasoline prices are expected to peak at $4.15 a gallon in August, but he projects gasoline averaging $3.92 a gallon through 2009.

Lawmakers signed a petition Wednesday to bring legislation to the floor that would help Americans with those gas prices.

It’s called the "No More Excuses Energy Act" introduced by Representative Mac Thornberry of Texas. Representative Ralph Hall is a co-sponsor of the bill.

The petition encourages new refinery construction and the use of shale oil or tar sands. It also boosts alternative energy development like wind energy that we are already seeing in parts of Texoma.

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