Gas Prices to Hover at $2 a Gallon
December 15, 2005 - Filed under: Faculty & Staff | Tagged: Educated Guesses
The price of gasoline will fluctuate around the $2 a gallon mark through the early part of 2006, says a University of Alabama engineering professor.
Depending upon how long and cold the 2006 winter is, gasoline prices will start to rise sometime in late winter or early spring, says Dr. Peter Clark, associate professor of chemical engineering at UA.
The price jump will occur as the refineries shut down for maintenance and switch over from producing more heating oil to producing more gasoline, Clark said.
“Assuming no upsets in the world, gasoline prices should start to moderate by early summer, but gasoline prices will stay at or above $2 a gallon,” he forecasts.
Natural gas prices should stay high throughout the winter, Clark said, and begin to moderate by spring. “Much will depend on how rapidly the production in the Gulf (of Mexico) that was damaged by the hurricanes is brought back on line,” he says. “This means that home heating costs will remain elevated for the foreseeable future.”
The University of Alabama, a student-centered research university, is experiencing significant growth in both enrollment and academic quality. This growth, which is positively impacting the campus and the state's economy, is in keeping with UA's vision to be the university of choice for the best and brightest students. UA, the state's flagship university, is an academic community united in its commitment to enhancing the quality of life for all Alabamians.
CONTACT: Office of Media Relations, 205/348-5320
Dr. Peter Clark, 205/348-1682 (office), 205/246-3607 (cell), pclark@coe.eng.ua.edu