High Gas Prices May Mean More Hybrids
POSTED: Monday, March 7, 2011 - 5:48pm
UPDATED: Tuesday, March 8, 2011 - 9:56am
EL PASO - The price of gas is going in only one direction and Patrick DeHaan, a petroleum analyst, says don't expect that to change anytime soon.
"It's certainly possible that we see prices remain this high, at least through the summer months. I don't see any sort of significant drop in prices until perhaps autumn," DeHaan said.
DeHaan says there's reason to believe gas prices could continue to rise.
"If significant oil disruption from Saudi Arabia occurs, we could be talking about $5 a gallon, even more than that perhaps," DeHaan said.
Len Crawford from Rudolph Honda says people are looking for ways to save on gas. In just the past month he's seen about a 10% spike in people trading in their gas guzzlers for cars that use less fuel.
"We get a lot of trading that the fuel efficiency is not as good, but we actually are doing really we as far as that. So yes, we're getting a lot of those," Crawford said.
While getting a new car may seem impulsive, Crawford says more people are considering going green and investing in a hybrid.
"Hybrids will cost you a little bit more, but not much. But, the difference that you see in the gas prices definitely offsets that," Crawford said.
A hybrid won't work for everyone though, but there are other options.
"If you're just dealing with transportation from point A to point B, a four cylinder is going to save you a lot of money," Crawford said.