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POLL: What will $5 per gallon gasoline mean to you?

All signs are pointing to a continued run on fuel costs here in the US, with many experts predicting $5.00+ per gallon prices common by mid-summer. This is despite a continuing slump in crude oil demand here in the US – now at a 12-year low. This paradox between low demand and high prices has many wondering what’s really happening in the market, and where will it go from here.

Some industry advisors blame commodity speculators for the gouging at the pump, while others say a booming Chinese market and weakening dollar are to blame for near-record pump prices. Still others claim it’s the work of the Obama Administration to raise energy costs in order to make alternative sources of energy competitive in price. (After all he did promise to do just that during his campaign.)

Regardless of the cause, the reality to commuters and business owners is a painful reminder of the summer of 2008 when rocketing energy prices caused a wide ripple effect on prices in nearly every sector of the economy. Many businesses were in a panic about paying surging fuel costs while keeping prices low and people employed. Consumers felt it everywhere, but especially at the pump with painful total sale costs per tank of gas.

So what will $5 per gallon gasoline mean to you?

Will you choose to car-pool, buy a more efficient car, walk or bike to work (where possible), take fewer trips, buy gasoline on discount-days, adopt eco-driving habits, or cut-back in other areas of spending to afford your normal driving habits?

Comments

3 Responses to “POLL: What will $5 per gallon gasoline mean to you?”

  1. John on April 14th, 2011 12:07 PM

    I would think that more people would choose to buy a more fuel-efficient car, though I am pleased that I see fewer Hummer’s on the road.

  2. L. Jenne" on April 20th, 2011 12:34 PM

    As long as the STOCK MARKET controls the PRICE of GASOLINE there will be no change !!!

    As long as only forign countrys are allowed control and drill for oil off our coast there will be no change !!!

  3. ROGER on April 23rd, 2011 6:53 PM

    nothing gets more economical than a vehicle that is paid for. I live in texas and have some acreage. I really need at least one truck. I checked with the cash for clunkers. My 10 yo truck got the same gas mileage as a new truck. So I did not meet the requirements.
    The right leaning tea party is starting to get my attention that this is more of east coast ” we know best and you will just have to suffer”
    I hope that it is not so and that our President means it when he says that we need to get gas prices down. As a government worker, I am the one now being looked at to cut. I am lucky to still have my job and am looking at a 2-3 yr wage freeze. So huge price increases in gas is a real hardship.

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