WASHINGTON - The U.S. Energy Department looks for gasoline prices to climb over the next three months. It cites the cutoff of production from Venezuela. <br>
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Gasoline prices nationwide are expected to average a $1.54 a gallon by mid-spring. That's about ten cents a gallon higher than this week's national average. <br>
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Summer prices are likely to be even higher if fuel demand increases with the arrival of the busier driving season. The department says a shortage of crude and refined gasoline from Venezuela could cause regional price spikes. <br>
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The projections do not take into account the turmoil over Iraq and assume that Iraqi exports will continue. <br>
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Last year, Iraq produced about two million barrels a day. Experts have said serious worldwide crude shortages could develop if war erupts in Iraq and if Venezuela's oil fields remain unproductive.
