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April 15th, 2011
08:28 AM ET

Shell Oil president: 'We're going to need significant efficiency gains in energy usage'

NEW YORK (CNNMoney) - The national average of gas stands at $3.81 a gallon. Prices are up 24% from the start of the year. A big culprit behind the surge has been oil. While gas prices typically start to rise at this time of year, $100 oil isn't helping. Based on current oil prices, there is a 33% chance that the national average gas price could hit $4 a gallon in July, said the Energy Information Administration in its April short-term energy outlook. Shell Oil president says the rising demand of oil affects the price and alternatives need to be sought.

Filed under: Economy
soundoff (One Response)
  1. DWB

    WHAT A LIE!!!

    April 15, 2011 at 7:17 pm |