$5 Gas Prices By Memorial Day?

According to AAA and Oil Price Information Service, $3.85 is the average price for a gallon of regular unleaded gasoline in Riverside and San Bernardino counties.

That’s an increase of 8 cents from a week ago, 14 cents from a month ago and 43 cents from a year ago at this time.

And it could get worse, if you listen to the analysts. They said normally a 10-cent per gallon increase occurs when the more expensive warm weather gasoline blends come out, along with the traditional increase in demand that happens at the same time.

Also, if tensions in the Persian Gulf continue to escalate, it could drive up the price of crude oil.

The price of crude oil closed at $101.52 a barrel on Wednesday.

The experts said when you add up all these factors, a perfect storm could happen and gas prices could reach nearly $5 a gallon by Memorial Day in major cities like San Francisco and Chicago.

Regardless of how high the prices get, one simple way to increase your gas mileage is to keep your tires properly inflated.