Is $5 a Gallon Gas on the Horizon?

Are gas stations going to be unpleasant places to visit come summer?

Are gas stations going to be unpleasant places to visit come summer? (bizben.com)

Make no mistake – we’re gear heads and love all things automotive. And since we love cars, we’re big fans of being able to get the biggest bang for our buck when it comes to our vehicles. That’s one of the reasons we encourage buyers to consider the hidden factors in buying a car.

After all, once you factor out the price we pay for our cars, and the cost of our car insurance policy, the biggest expense most of us have is keeping fuel in the tank.

The cost of gasoline hits our bottom line, no doubt. And over the last year, we’ve been paying more for gasoline each time we fill up at the pumps. Even as cars sold in the United States are hitting their highest average fuel economy ever recorded.

Gas prices are up 9 percent over this time last year and look to be well on their way to breaking $4 per gallon by summer. According to motorist group AAA, the current national average price of $3.56 a gallon marks the 13th consecutive weekly increase.

There are a number of factors that could see gasoline reach even higher prices, with some pundits calling for $5 a gallon in the same period of time.

Gas prices are extremely volatile, pun intended. Sabre-rattling by Iran, the rebounding stock market and even the shutdown of a single refinery are all capable of raising the price consumers pay at the pump.

How much is too much?

Will $4 a gallon gasoline make you change the ways you drive? How about $5 a gallon gasoline? At what point will the cost of gasoline have you choosing to carpool or use public transportation? Or force you to change other budgeted items in order to keep driving?

How high do you think gasoline will get this summer? Will we still have prices in the $3.50 range, or will we be paying a dollar or more extra when the summer rush begins?


About Cecil Helton

Cecil Helton Cecil Helton is a U.S.-based writer and editor with passions for cars, motorcycles, boats, technology and social media. Much of his professional life since 1996 has been web-centric, and he’s written and developed content on a variety of subjects. His work in the houseboat industry received wide acclaim, such as winning the 1999 Cisco Systems Growing with Technology award and being named one of five finalists in the manufacturing sector of the 2000 Computerworld-Smithsonian Awards. As an Air Force brat, he spent much of his childhood in a two-year cycle of moving to a new place, making new friends, establishing a life, and then moving again. Destinations included: Kentucky, Illinois, Texas, the Greek isle of Crete, California and Ohio. Today you’ll find Cecil coping with his 15 year old son’s decision to pursue a motorcycle license at the same time he gets his driver’s license, being active across the web on multiple social media sites, and of course, writing articles and creating content on automotive and car insurance related topics right here at CarInsurance.org.


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