Did you know that for the past 7 years, gasoline prices here in the US have risen an average of 15.62% per year? In 2002, a gallon of regular unleaded gas cost an average of $1.29 (that's averaging weekly gas costs on the east coast for the year). Today, that same gas is about $2.80 - an increase of 217% in just a little over 5 years.

Chart.

Data courtesy of the US Department of Energy - Energy Information Administration

If gasoline prices continue their 8-year trend, in 10 years (at 15.62% annual increase), it could conceivably cost us well over $10/gallon by 2018. If only a moderate increase occurs (say 7%), gas would still be over $6/gallon.