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Oil expert: Get ready for $5/gallon gas
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Gas right now is as cheap as it's been in years.
But a former oil executive told USA Today it won't be that way for long.
John Hofmeister originally predicted gas would hit the dreaded $5/gallon mark in 2012 (it peaked around $4/gallon). But now he says demand is growing and production is falling short.
"People were worried about the global economy, and prices went to $30, $40 a barrel, and just a matter of months later, it was back to $100 a barrel," he said, referring to the rebound after the Great Recession.
