Gas prices in the U.S. rose 15 cents per gallon over the past week, according to Automotive News. The average price for a gallon of gas went from $2.36 last week to $2.51 this week. There are increasing concerns that the price of gas could return to record levels if the confrontation between the U.S. and Iran worsens. GM’s Bob Lutz recently said that if oil prices reach $100 per barrel, it would “basically bring the industry to a halt.â€? (In the same interview, Lutz also said he thinks ethanol could be the answer. “We think running the nation on E85 makes more sense than all the hybrids in the world.”)
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