Some experts predict oil prices will go as high as $100 a barrel, which could translate to roughly $4 a gallon at the pump by summer in some areas of the country, reports the Huffington Post.
OPEC is breaching its production limits the most in six years, signaling the world’s biggest suppliers are ready to pump more crude next year as oil rallies toward $100 a barrel.
With oil trading on the world market at above $130 a barrel, U. S. consumers are feeling the economic impact at the gasoline pump and in increased food prices.