Gas Watchdog Predicts Spring Price Spike

UNDATED -- A website that watches gas prices is out with some information about what we can expect to pay at the pump in the months ahead.

Gasbuddy.com says the average price of gasoline in the U.S. is at $3.26 a gallon. And, while it has declined significantly in recent months, we are still paying more than 21-cents more per gallon than this time last year.

Don't expect it to drop much either.

Gasbuddy is predicting prices will top out at $3.97 a gallon this May when the travel season gets underway.

It would mirror a trend we've seen over the last seven years. For example, in 2007 we started at $2.15 a gallon and peaked at $3.33.

In 2008, we went from $2.96 a gallon to a peak of $4.00.

In 2009 during the heart of the recession, we started the year at $1.64 a gallon and finished with a peak of $2.68.

In 2010, we began at $2.63 and finished with a peak price of $3.02 a gallon.

So, it may be best to prepare yourself now for that gas price hike this summer.