IRVING, Texas, April 26, 2011 /PRNewswire/ -- Gasoline prices are expected to remain high in the near term, says Chris Faulkner, CEO of Breitling Oil and Gas Corporation. "The last time we saw these prices was post-Hurricane Katrina and everyone was taken off guard. The difference today is that gas prices have increased gradually and Americans seem better equipped to handle them even if they don't like them."
United States national pump prices averaged $3.89 a gallon last week, the most expensive since August 2008, according to the Energy Information Administration.
Faulkner said, "The likelihood of a national average decline on gas prices is extremely slim." Faulkner added, "I would not be surprised if we see $5 per gallon gas by the end of the year and that is something the American people may need to be prepared to deal with."
Faulkner is preparing to keynote the Annual International Symposium of Unconventional Oil & Gas in China on May 17, 2011.
For more information on this and other activities of the Company, see the Breitling Oil and Gas website at http://www.breitlingoilandgas.com.
Breitling has current oil and gas exploration projects all over the United States.
About Breitling Oil and Gas
Breitling Oil and Gas was founded in October 2004 to apply state-of-the-art petroleum and natural gas exploration and extraction technology to the development of onshore oil and natural gas projects. Our focus areas include Texas, Oklahoma and Louisiana. Breitling offers oil and gas investment opportunities through direct participation programs and oil and gas investment joint ventures which enable investors to participate in the potential cash flow and unique tax benefits associated with oil and gas investments. Especially important in a downturned economy, oil and gas investments allow savvy investors to diversify and reinforce their investment portfolios with a stable commodity that is in steady demand.
Director of Public Relations
Breitling Oil and Gas Corporation
SOURCE Breitling Oil and Gas Corporation