Monday, April 11, 2011

Gas prices to reach $5 a gallon by summer?!

Expect a total market collapse at that price point (without payroll keeping up with rate of inflation)

Gas Prices Climbing Toward $5 Per Gallon
At one time, $5 per gallon gas seemed like a farfetched idea, but that is no longer the case.

As CBS 2’s Roseanne Tellez reports, as of Monday, the average price for a gallon of regular unleaded gasoline in the Chicago area is $4.11, compared with $3.71 a month ago, and about $3.10 a gallon at this time a year ago.

Some experts say $5 per gallon gas is possible by Memorial Day.

The public can and will reduce consumption this summer. The question is how - and for how long.

* How many people will opt to work from home via TeamViewer?

* How many people will forgo any summer scenic drives and road trips?

* How many people will hoard food and shop once a month?

* Saving on trips to the mall - yet absorbing rise in cost of shipping on online purchases...

* Summer camp? Try stay at home with unemployed mom or dad camp

* You've heard about car pool to work, try car-pool shopping

* Soccer moms, will you just cancel kids after school activities to save on gas?

* Will people fly around the country for leisure when flight costs catch up to cost of fuel?

Rough summer.

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