Tight supply and high demand will keep the price of gasoline at $4 or above through 2009, according to the U.S. Department of Energy.
The Associated Press reported Wednesday that Guy Caruso, head of the Energy Information Administration, told a House hearing that crude oil prices will likely average $126 a barrel in 2009. Gas prices will hit $4.15 a gallon in August, and won't fall much after that, he stated.
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