GREAT NECK, N.Y. (CBSNewYork) — It’s shocking — reports that gas will reach $5 per gallon by the summer.

Believe it or not, a station on Long Island is already charging that much. CBS 2’s Don Dahler went there Tuesday to find out why.

The sign at the Gulf station on Northern Boulevard in Great Neck really does say a gallon of regular will cost you $4.99.9. Unless you have a spare one-tenth of a penny lying around, for all intents and purposes, that’s a $5 gallon of gasoline — $5.09 if you use a credit card.

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