As oil prices hit an all-time record Thursday, a new report predicts that by 2012, gas will jump to $7 a gallon for regular unleaded.

Iowan dad Jay Chance is one of many drivers disgusted with rising gas prices and now economists at CIBC World Markets are forecasting gas will get to $7 in just two years. That's a 75% and too much for Chance to handle.

"Pretty much sick to my stomach," said Chance and he's not the only one. It seems this forecast has people upset.

"Angry. It makes me angry," said Sioux Falls mom Belinda McGraw.

Howard Britton feels the same way. He said, "If it goes to seven a gallon I'll probably be walking."

David Polcari from Ellis, SD told KSFY, "That's horrible. Everything is going to go up as a result of the oil prices being that high and it's going to be tough on everybody."

Especially tough on those who will be forced to give up their car. According to the report, those that make less than $25,000 a year, simply won't be able to afford to drive if gas is at $7 a gallon. It suggests that by 2012, there will be around 10-million fewer cars on the road than there are today.

As for Jay Chance, he's in the trucking business, so he's hoping this forecast doesn't come to fruition. He said, "I don't know what we'll do. We'll just have to keep paying it because we have to go to work and back, but there won't be anymore trips."

KSFY's Drew Sandholm can be reached by phone at (605) 373-7372 or e-mail.