Carol Thorp Gall Quotations

Prices remain on the rise but there is hope that we may be nearing a peak. Wholesale gas prices have averaged about $2.60 per gallon for the past week. Taxes add about 60 cents to that, transportation and dealer profit is another 5-10 cents. Prices in the L.A./Long Beach area could peak at $3.25-$3.30 by mid-May then they could decline after Memorial Day.

Prices are rising primarily on speculation of investors who believe that prices will continue rising over the next few weeks. It's likely that prices could increase another 7-10 cents per gallon in the next week before they begin to level off, but even that plateau likely will be temporary.