In response to elevated media interest and the release of the Annual Gasoline Price Outlook 2012 by Gas Buddy, Financially Consumed polled its own readers to gauge how high prices will rise this year.
The 2012 Financially Consumed Gas Price Poll is closed and the results have been tallied. The poll was open for 5 days and recorded 51 responses.
Poll Results:
- Only one reader (2% of responses) believes the national average price per gallon of regular gasoline will stay where it is now, at $3.38.
- Four readers (8%) believe the price will exceed $4.80.
- The most popular response was $4.20 – $4.39. One quarter of all respondents selected this range.
- The Weighted Average (using the midpoint of each range and assuming a value of $4.90 for responses exceeding $4.80) was approximately $4.27.
Financially Consumed reader consensus shows that you believe Gas Prices will exceed the highest Gas Buddy prediction of $4.15 by $0.12 per gallon. I look forward to reviweing the results later in the year to test our predictions. Thank you to all who participated to make this poll a success.
Results Chart:
Related Articles:
How Much Will You Pay For Gasoline In 2012?
Nice poll and results. I’m sad I missed the poll. I hope you do another one… although, I have no idea what to expect for gas prices.
Thanks Corey. I’ll be doing the occasional poll or survey through the year. It’s always enlightening to understand what people really think.
Enjoyed reading the poll too! Disappointed to not be able to participate in it either. Great article!
Yeah I would have liked to get into the poll too. I think it will take a serious jump so add me to the 25%
Thanks for your inpit Jai. I think you’re correct. Let’s hope we don’t get blown away too badly with higher gas and oil prices.
Very interesting. So I am not the only one that thinks there will be a big jump. It will be interesting to see what happens.
You’re definitely not alone Miss T. I’ll re-visit this data as appropriate through the year and see how close we come to reality.
Everyone I talk to are expecting a painful summer. Is it time to buy energy stocks?
Energy returns are far from uniform in my opinion. Oil may be up this year, but natural gas could be down, and renewables are even more challenging. I’ll that decision up to you Joe
Very interesting results indeed! With Iran, I can only see the prices going up.
Every way I look at it, prices are heading up. However, if the economy collapses independently of any oil issues, then I think prices would come down and a lot of capacity would go off line
This was cool, but not shocking to me. As PF Bloggers, what do we preach about? ….being ready for the “oh no” moment & having a plan so things won’t get out of hand. I think as a group, we’ve been conditioned to expect the worst and hope for the best.
That’s why I expect high gas prices but hope for $1 per gallon again. …when you wish upon a star….
I read the results from this group just like you AJM. Although, I don’t think it takes much of a focus on your finances to plan conservatively. It’s just smart to plan for higher energy costs. If they don’t eventuate in the near-term, you’ll be better prepared for the next spike.
I think I underestimated gas prices because in my area they are already creeping up and are at $3.79 a gallon for regular gas (premium is just a few cents shy of $4.00). Thank goodness I don’t have to purchase gas very often!
I’m glad that you are able to ride your bike to work LH. Your saving money, staying fit, and using fewer resources by making this simple decision. You’re setting a great example.
So I am in 22% category. nice idea of a blog post!
I have no clue where oil prices will go at any given time. Given that it’s finite and that companies have to put out more capital expenditure to reach the less-reachable sources, I can only expect it to go up over time.
A way to hedge against high oil prices is to buy shares of energy companies. They generally are very profitable during times of expensive oil. I own shares of a few of them, so if oil prices are high, my gas prices will be high, but my energy stocks will likely be bringing in considerable cash flows.
Interesting poll and results Hunter! I hope we’re all wrong and the 2%-ers are right. Crossing fingers.
Interesting results to your poll. I’m sure it will go up, I just hope it’s not by too much :/
I missed the poll but more so I miss the days when gas was .99 per gallon. Back in college i took for granted how cheap gas was. But I think gas will increase but hopefully not do dramatically though.
Interesting poll. I hope they don’t rise too dramatically, though now that I quit my job and work from home and my husband takes public transportation, we only spend about $75 on gas a month now.