Gas Prices?

Question

Would any of you Americans consider paying $9.58 a gallon on average? And If your prices where ever to rise that high with a strong possibility that it would reach $13.54 by the end of the year what do you think would happen. Especially when you knew from the Big Oil companies that they had made hideous profits, but blamed world oil prices for the increases. Because that is what is happening in the UK.

Answer 1

American automakers are FINALLY taking notice of the high prices and working on alternative fuel and hybrid technologies that the Japanese have had for years now that Toyota has become the king of world-wide automobile sales.  Hopefully this example of free-market at work will help slow the rise of gas prices, but they will ultimately keep climbing as long as demand outstrips supply.

Three years ago, I bought a Toyota Prius and figured out that based on $3.80/gal of gas, I'm saving about $8000 for every 100,000 miles I drive the car when comparing the Prius to the standard American-made sedan.  Surprisingly plenty of people are still buying SUVs that get less than 10mpg, then they whine about paying more than $100 per fill-up.

Anyways, to answer your question, I know it's just a matter of time before prices reach those of Europe, but I'm hoping that free-market innovation will not only help those prices to be less painful for Americans but help with the rest of the world as well so that these tyrants in South America and the Middle East will go bankrupt!

Answer 2

One thing every one fails to remember is that most of the price in Europe is from taxes, not the price of oil. If you took away all the taxes in both countries the price would be nearly the same.

Answer 3

There is no way I could keep my current job & pay that much per gallon.  I drive 75 miles round trip 5 days a week to work.  I have a Ford Explorer which I no longer drive except on weekends- I am driving a Chevy Monte Carlo (my sons car) during the week.  Saving about $30-35.00 per week- still looking to go smaller vehicle though.  I feel for you paying that much!!

Answer 4

America doesn't have a choice.  We never bothered to tax fuel like Europeans do, so we built our lives around dirt cheap fuel.  We drive guzzling SUVs and we live in vast suburban sprawl.  

We can transition to efficient cars and village living (we call that new urbanism), but it's gonna take a long time, 10-20 years.  In the meantime we're just stuck paying.

Answer 5

I would get rid of my truck and get some kind of mo-ped!  Considering it now..