At the rate the gas prices are going up what do you think they will be when my 3yr old turns 16?
2007-05-18 09:53:04 · 6 answers · asked by *~M 1 in Cars & Transportation ➔ Commuting
The future price depends on how you look at gas prices.
Gasoline, over the past 25 years, has increased about 2% a year. Using that rate, and $3 a gallon as our base price, you can expect to pay about $4 a gallon.
Since 2002, gas has gone from $1.60/gallon to $3.00/gallon. That's about a 13% annual increase. Using that rate, you can expect to pay about $18/gallon.
I'd expect that you'll see more like a 5% increase over time. That will leave us at about 5.75/gallon.
Keep in mind that the inflation rate doesn't discount income inflation. If you take that 5% increase in price and take out an average annual increase of 2.5%, the effective price of that gas (in today's dollars) is about 4.25. Not an easy number to swallow, but not the astronomical predictions you're likely to get.
2007-05-18 11:00:29 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Gas? What gas! I think that most if not all cars will be running on some other type fuel! Does that mean the other fuels will be cheap NO! Electric , Hydrogen maybe even water! I don't know but I have a feeling it won't be gas!
2007-05-18 17:03:37 · answer #2 · answered by Ernie R 2 · 0⤊ 0⤋
If people are dumb enough to still be using gasoline in 13 years or even 2 years from now, you deserve to pay whatever the price is. THERE ARE viable alternatives out there RIGHT NOW, ( biodiesel, E100 ethanol, etc. ) research them and get one working in your community, or at least for yourself. What are you waiting for? The gov't ? The oil co's? The US auto co's? The sooner you people realize you need to get together in your communities and help yourselves on this one, the sooner you can be rid of big oil.
2007-05-18 19:34:35 · answer #3 · answered by broham85 3 · 0⤊ 0⤋
$6.50 per gallon.
I figure once it gets to $5 or so, that will start really effecting demand, and then prices will hover in the $5 for many years, until we all get used to it and the price spikes again.
2007-05-19 02:12:08 · answer #4 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
12 to 15 dollars.
2007-05-18 16:58:18 · answer #5 · answered by Anonymous · 0⤊ 0⤋
I expect with the rising costs now...I'd predict somwhere around $8.00 a gallon, and that's being optimistic. ^_^
2007-05-18 17:00:54 · answer #6 · answered by dhanicauldwell 2 · 0⤊ 0⤋