Mondo Times Money Poll Archive

This poll ran from May 12 to 18, 2008.

Mondo Stars Poll Results

"Americans can expect to pay $5 a gallon for gasoline in 2008." True 988/71% False 398/29%

Votes: 1386

A CNN/Opinion Research Corp. poll released on May 5, 2008 found that 94% of respondents expect they will have to pay $4 a gallon for gasoline sometime this year - and 78% said they figure it will hit $5.

According to motorist group AAA, the national average price for gasoline was $3.61 at the end of April.

CNN Money reported that "Consumers' fears that they will have to pay more have intensified. A year ago, 79% thought gas would cost $4 by the end of 2007 and only 28% feared $5 gas."

Last month, the U.S. Department of Energy said that the national average price of gasoline would hit a high of $3.60 in 2008. But gas prices have already surpassed that forecast well before the typical peak in gasoline prices in June, leading some analysts to raise their forecasts to above $4. Stephen Schork, editor of energy industry newsletter The Schork Report, said that "For gas prices to come down significantly, we'll have to see a material depreciation in the value of crude, but with prices hitting $120, it doesn't look like that\'s happening any time soon."

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