Sunday, May 11, 2008

Gasoline Prices to hit $7.00 a gallon?


My husband and I were watching the news the other night and happened to hear that gasoline prices could reach 7.00 a gallon...WHAT? So, I looked up the news article that reported this amount here. What would happen if that actually happened?

Obviously transportation costs will skyrocket for transporting food and goods to stores...and certainly they will pass this cost to us. I cannot imagine what things will cost then???

Once again, savings will be the mantra, but I don't believe that will be enough. We must find alternative ways to do things...conservation at the top of the list....everything from gas to food, water to electricity, etc.

What would you do to conserve?

7 comments:

Canadian Saver said...

I would definitely try to car pool, even if it meant waiting around for someone else to finish a later shift. Or I'd look into biking or getting a scooter if I was going shorter distances.

If food gets sky high, I'll probably look into growing more things at home, and may get a few chickens. But I'm sure chicken feed will get high too!!!

I just hope the prices don't shoot up overnight... if we have a few years to get used to it, we'll have time to get a good plan in order.

It's scary though, isn't it?!?!

Mike said...

You would simply have to live with it....as most of europe has been doing for some time now. Gasoline in the UK, for example, is now the equivalent of $8/gallon. The problem with US gas is that it is far too cheap.,..rather than too expensive! Welcome to the 21st century!

Sharon said...

Mike,
I understand that Europe has more walkable communities...something I would LOVE to have here. Sorry to hear that you already pay $8.00 a gallon..YIKES!!

Anonymous said...

How about FIXED PRICE GASOLINE? Take a look at http://www.gasbankusa.com

Anonymous said...

While cruising the web, I came across this site, http://www.gasbankusa.com . The site says you can buy gas at today's price and lock in if the price goes up. Interesting concept. Looks like a great idea to save on gasoline prices if and when they go up.

Sharon said...

I'll have to check that out!

Mike said...

Sharon....yep $8/gallon and rising..what really angers people in the UK, however, is that the government says Opec oil producers should take action to lower the cost of gas when the government take in taxes from each gallon represents more than 65% of the total cost!! Their case is that gas has to be expensive to conserve supplies and to help the environment. The bottom line, however, is that the days of cheap fuel are well and truly over and that major consumers like the US, though it may be starting from a lower price base, is going to have to adjust painfully to the new reality of declining supplies and hungry customers like china and india. A recession in the US may take some of the heat off in the short-term but I am prepared to bet that in 5 years time you will be debating not whether gas hits $4/gallon but $7 0r $8. Bring on those electric cars! mike