Will Gas prices top off around 7 bucks or 10 bucks this summer?

Question

Prices went up plenty fast the past two weeks.

Are you gonna let your kids borrow the car to go cruising or are you gonna make them take the bus or walk?

I'm only worried about makin my rent, hell I gotta commute 22 miles just to get to work, most of that in awful traffic.

**No, there is no light-rail service and no bus service available, where I work.

Answer 1

I wouldn't let the kids even think about touching the car! The price of gas is only going in one direction and it isn't down.
When it comes to my transportation, I let my feet get me where I'm going. What if they were in an accident? Just a fender bender is not only going to give you a headache it will
also give you a bill that will make your rent look like pennies!!!

Answer 2

First of all if gas gets that high this summer, bread milk, meat, laundry detergent, underwear and everything else you buy will cost 30% more. Don't forget everything moves by truck. If their costs double the wholesale price of everything will go up at least that much. The gas to get work will be least of your problems. Feeding your family will be.

The reality is however that the global trading system that governs commodity markets knows that if prices rise that fast it will negatively impact the delivery side of the markets on which they depend for their profits. They don't want demand for the commodities they trade to plummet. If that happens the price will too. They want steady slow price rises. Yes there will be spikes from time to time buy not to that radical of a degree.

Unless, Dick Cheney desides he's had enough of our middle class butts and wants to sink our economy one and for all, so he and his billionaire cronies can take it all, then all bets are off.

Bottom line, The global powers, the Saudi's, big oil, energy companies and trading firms know our economy could not handle such a shock and won't let it happen. Not that fast at least.

But start planning now because if Bush decides to invade Iran, again all bets are off. The US debt to market ratio will go throught the roof to pay for the war and oil markets will switch to Euro's. Because of the trade deficit, we don't have enough of Euro reserve to pay for oil in Euro's. The result, the US with it's massive trade deficit will be economically screwed beyond your wildest fears.

Answer 3

i don't think it will get to 7-10 dollars, but i am expecting it to hit at least the 4 dollar mark. this is gonna be brutal, especially for me since i'm unemployed.

Answer 4

Who knows the Towel Heads.

Answer 5

more like 4 to 4.5