How high would gas prices need to be for economy to collapse?

Question

gas prices are rising and there is every indication that they will not only not go back down, but continue to get higher indeffinatly. Our economy is highly dependant on a cheap mobile source of energy. whats the highest the prices could get before our whole economy collapses?

Answer 1

In some countries in Europe the price is more than $10 a gallon  without doing much damage to the economy but they have adjusted their habits and life style to high gas prices because it happened slowly giving them time to  change. What is hurting us now is the suddenness of the increase, not the dollar value. An economy that  is optimized for cheap energy does not do well  when it is no longer cheap so our economy is   already feeling the effects and $10 a gallon gas would case a major crash here if it happened tomorrow.

Answer 2

we are pretty much there already.......we are on the borderline

Answer 3

who knows but it's kinda collapsing atm

Answer 4

I heard that at $8.00 a gallon, half the U.S. would end up starving to death.

Answer 5

i would say $15-20 a gallon.

Answer 6

Uh, learn an economic.

Answer 7

Actually, in my town, they are falling.

Gas was 4.00$ but now its about 3.45 a gallon.

And the other day, my mom found gas for 2.50!

Praying that they go down even more day by day :)

Answer 8

$10.999 for 1 gallon of regualar unlead

Answer 9

It's already going to collapse.  Simply youtube "economic collapse".

Numerous indicators suggest it.

We are damned if gas goes up, damned if it goes down.  This is because if oil goes to $50 a barrel, the UAE countries will dump our T-Bills.  This would lead to a dollar collapse and is exactly why we will attack Iran.

We are doomed man.  Stock food & silver now.  I'm not kidding.  I may be saving your life on yahoo answers.

Answer 10

$100 dollars a gallon

Answer 11

High enough to stop most people buying it.

Answer 12

The whole economy will never collapse, but high unemployment will kill us. 1930's depression was 25% unemployment, any rise in gas price will kill jobs,killing more of the U.S. economy.when the price of an ounce of gold goes up this also affects the economy(inflation), many others things also affect the market of supply and demand and greed.

Answer 13

the a******s who control oil prices won't make the economy collapse. They're gonna just push the prices to the point where they make the most money without terribly adverse effects on the economy

Thats how capitalism works buddy.

Answer 14

$10.  Imagine yourself paying out $100 for a ten gallon fill

Answer 15

It got up to six dollars in a city in California, and they're still here. Now that it's going down again, maybe the economy will get better. But people really felt a pinch in the economy when it went up to $4.19. If it were to go up to five dollars per gallon, people who were just getting by would really have to save their money, causing another Great Depression-like time.