$5 a gallon!

As oil soars toward $100 a barrel, it's likely, experts say
BY PAUL H.B. SHIN
DAILY NEWS STAFF WRITER

Tight petroleum supplies amid soaring demand could drive crude oil prices above $100 a barrel by this winter, energy experts warned yesterday.

That could translate into gas prices of more than $5 a gallon at the pump and spike home heating oil an additional 30%, analysts said.

Iran's deputy oil minister, Hadi Nejad Hosseinian, fueled the paranoia yesterday by predicting that crude could hit $100 a barrel by the end of the year - $26 above even yesterday's near-record price.

The problem is that Iran, the world's fourth-largest producer of crude, is just one of several hot spots in danger of boiling over, experts said.