Wednesday, August 31, 2005

Gas to Top $4.00 a Gallon?

This is interesting:

Consumers can expect retail gas prices to rise to $4 a gallon soon but whether they stay there depends on the long-term damage to oil facilities from Hurricane Katrina, oil and gas analysts said Wednesday.

"There's no question gas will hit $4 a gallon," Ben Brockwell, director of pricing at the Oil Price Information Service, said. "The question is how high will it go and how long will it last?"

I've never had a real problem with Americans having to pay more at the pump. After all, expensive gas would certainly aid in the development of alternative fuel vehicles and add to the push for higher-mileage gas-powered vehicles. But a sudden jump to $4.00 a gallon could cripple the U.S. economy, particularly if the price stayed up there for a while.

1 comment:

Martin said...

I read this today, too. My brother just bought a little scooter to drive to work - goes about 100 miles on a tank (1 gal). I'm looking at getting something similar (a little larger - a max speed of 40mph in the flat seems a tad life threatening).