Toyota executive sees U.S. avg gas price up to $3.50/gallon

Gasoline prices in the United States this year will rise to an average of about $3.50 a gallon, a top Toyota Motor Corp (7203.T) executive said on Monday.

"What we see is national average gas prices will remain above $3 a gallon through 2011, approaching $3.50," Bob Carter, the Toyota brand chief for the United States, told Reuters at the North American International Auto Show in Detroit.

In states with high taxes and other costs, such as California, prices could hit $4 a gallon, the highest level since 2008, he said.

Last week, Toyota officials said U.S. gas prices were heading toward $4 a gallon this year.

Read Full Article from Reuters

- Posted: 2011-01-10 11:15:44

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