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Gas prices to rise, consumers shouldn't be heavily affected, said NADA

Posted On Fri, March 16, 2012

A report from the NADA Used Car Guide noted that gasoline could increase to more than $4 per gallon, however, with so many consumers used to high gas prices, any spike should be manageable.

Gas prices have already increased markedly through the first couple of months during the year, the report noted. The $4 mark is anticipated to be met by May. There are many reasons for the increase, but one of the main ones is due to the continuing international political pressures surrounding the situation in Iran.

"Considering consumers have become accustomed to gasoline prices that averaged more than $3.50 last year, this time around we don't expect to see dramatic shifts in the shopping behavior of consumers for more fuel-efficient vehicles when prices approach the $4 mark," said Jonathan Banks, executive automotive analyst for NADA Used Car Guide.

Still, many consumers are struggling to make ends meet. In order to alleviate this situation, it is important to save where possible. Looking for the lowest auto insurance rates may help achieve this.

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