Gas to reach $5.00 a gallon nationally by Memorial Day

[MIB41]

I'm already curtailing a lot of driving. But this is really going to stick the knife in deep. How many are already affected by this and will this hike cause you to change plans for vacation travel? Here's the article about it...

Gas Prices Climbing Toward $5 Per Gallon CBS Chicago

[boss]

are we reading the same article?

"Some experts say $5 per gallon gas is possible by Memorial Day. Others caution that reaching that mark is unlikely over the next six weeks..."

[MIB41]

I'll take the rosy assumption it won't, but it could. Its bad enough where its at!

[jimsmegos]

This particular topic is making it hard to follow the rules in not cussing like a sailor.

Seriously though I do believe we WILL see $5 per gallon that way once it goes back to $3.50 we'll all be happy as pigs in slop that it's only $3.50.

So long economic recovery!

[jwyblejr]

If it don't hit it by Memorial Day,I'm sure it'll hit it by July 4th.

[SeattleEd]

I've already adjusted my budget to reflect paying $5 a gallon and since my car only takes 92 and above octane; I'll be curtailing my driving habits.

[johnmiic]

I've been limiting driving to once every 2 days.

As Daffy Duck says, "Is this trip really necessary?!?"

[Trappy Trek Freak]

Man I gotta get rid of the H-3 but my wife won't let me trade it, I'm gonna let her pay for the gas from now on then we will have a Honda Civic

[enyawd72]

You know what I can't figure out? If we're such a large consumer of oil, why can't we dictate the prices to these foreign countries just like Wal-Mart does to it's suppliers?

All it would take is once for us to say, you know what Mr. Arab? You want to sell us your oil? This is what we're paying and not a penny more, otherwise you can sit on it and we'll use our own.

[toys2cool]

that's crazy!!

[Adam West]

2/3 of the oil we consume comes from the U.S., Canada, and Mexico. The countries that are part of OPEC don't operate like Wal-Mart. They get together and decide how much supply they are going to offer by country at any given time and prices run up and down based on their pre-determined output. This is completely illegal in the U.S. but we can't control how they operate. The current prices aren't even being driven by supply. It is being driven by fear of what is going on in Libya and Egypt. Speculators are buying up oil futures who are not consumers of the oil...they just buy it, turn around and sell them to oil refineries at a higher price and we all pay for it at the pump...

[Toy Talk]

Even at the current prices my wife and I had to cancel the vacation to Disney World this year.

[megoscott]

The original poster did not start a political thread, please try to keep it that way, I know it's difficult on such a subject. Thank you.

[Brown Bear]

I'm paying 1.33/L right now.....it's ridiculous.

[Sideshow Spock]

The supply and demand fundamental is not what's causing these ridiculous oil/gas prices. There's abundant supply on the market and US demand has been flat for years. This latest spike is all about market speculation and manipulation. The latest unrest in the middle east gave the market an excuse to introduce the "fear premium" into the price.

EDIT: just like Adam West already said..