Laramie, Wy – A visiting professor at the University of Wyoming projects that gasoline prices in the Cowboy State could hit two dollars and 50 cents a gallon this summer. Economics professor, Walter Werner, says the reason is demand is out pacing supply right now. Last year gas prices were at the same level they are now, but Werner says this is a different situation. He says generally when prices are high it is a spike but he says the cost has not spiked yet because there are so many factors; terrorism and increased demand in China are just two.
Werner says President Bush could tap into the federal reserves but that would just be a temporary solution to the problem.
He says over the long run people should get used to paying two dollars a gallon.