Lots of news articles about gasoline prices.
Time for a quick calculation to see how to get to $5.

The rumor are of a Spring attack on Iran by Israel.
Who knows. Bomb-bomb-bomb bomb-bomb Iran...

The price of a gallon of gas costs:
Fed tax: 18.4 cents
State tax: 26-67 cents (New York is highest)
retail/distributor: ~15 cents
TOTAL: 59-100/gallon

Rather than figuring out refining costs and all the
zillion of variables of production and transporting,
I'll just use the wholesale gasoline price (RBOB).

Note there are dozens of gas formulations, as
required by different states or cities. Plus the
local sales taxes are different.

Current RBOB is about $3.15 for WTI at $108/bbl
http://www.eia.gov/dnav/pet/pet_pri_fut_s1_d.htm

So, to get over $5 gas, oil would need to be over
25% higher -- roughly $135 for WTI or $150 for Brent.

---
GM just announced that it will stop building Volts
for 5 weeks because sales are too slow.
http://www.freep.com/article/20120302/BUSINESS0101/120302035/Volt-production-on-hold-for-5-weeks

There's enough details in that article on the cost of
production for Volts to show that it's a massive money
loser. GM spent over $750M in design costs on it.