Is $3/gal US gasoline in prospect?

Are gasoline pump prices headed for $3/gal in the US this year?Don't start topping off your sport utility vehicle just yet.While there has been much speculation that higher crude oil prices in tandem with refiners' infrastructure, inventory, and fuel reformulation concerns will spike pump prices this year, it is unrealistic to expect a nearly 100% leap in average US pump prices that some market-watchers are suggesting.Merrill Lynch analyst Michael Rothman voices skepticism over such a scenario, noting that a $3/gal average US pump price would require the "crack spread"—or raw margin between gasoline prices and crude oil prices—to rise another $53/bbl from current level...

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