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58% Say It’s Likely Gas Prices Will Top $5 A Gallon

Most U.S. voters have taken notice of the recent spike in gasoline prices and they believe gas is likely to top the $5 mark by the beginning of summer.

A new Rasmussen Reports telephone survey finds that 58% of voters nationwide say it is at least Somewhat Likely that the price of gas will rise above $5 a gallon before July 1.  Thirty-five percent (35%) disagree and say it’s not likely.  These findings include 21% who say it’s Very Likely that the price of gas will top $5 a gallon and seven percent (7%) who believe it’s Not at all Likely.  (To see survey question, wording click here.)

An overwhelming majority (82%) believe that the price of gas has already gone up “a lot” in recent weeks while just 16% say gas prices have gone up “a little.” Fewer than half a percent believe gas prices have gone down in recent weeks and only one percent (1%) says prices have stayed about the same.

The national average price for a gallon of regular gasoline is $3.427, according to a daily survey from motorist group AAA.  Gas Prices have not averaged more than $3.40 a gallon since October 2008.

Over the last several years, rising gasoline prices have frequently led to declines in consumer confidence as measured by the Rasmussen Consumer Index.

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The survey of 1,000 Likely Voters was conducted on February 28-March 1, 2011 by Rasmussen Reports. The margin of sampling error is +/- 3 percentage points with a 95% level of confidence. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.

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