Ocean City Council retracts free gas promotion.
Drivers will shell out $34 billion in December on fuel, according to AAA Mid-Atlantic. The numbers come from spikes in fuel prices. More changes could be on the way.
The former president of Shell Oil, John Hofmeister, predicts drivers will be paying $5 for a gallon of gasoline by 2012.
John Townsend, a spokesperson for AAA Mid-Atlantic, doesn't believe fuel costs will jump that high. But he considers the recent spike in fuel prices to more than $3 a gallon extraordinarily high for this time of year.
"The big question mark is what will the spring bring when there's always a 35 percent increase in gasoline. It's concievable that we could be paying as much as $3.75 a gallon or almost $3.80," he says.
Townsend says the national average price for fuel is $3.05. In the D.C. Metropolitan area, it's closer to $3.15 per gallon.