How high will gas prices go? Gas prices expected to top $5 per gallon this year? That's what experts are predicting.
Will continued high prices have an impact to the economy?
According to this source, there's an interesting relationship between oil prices and the economy. As prices rise, economic activity falls. But as oil prices fall, there's less of an impact, interesting enough.
Experts are saying:
The worst is yet to come for American consumers as gas prices soar past levels last seen during the Great Recession
Here are some quick notes about how experts feel about gas prices:
- Gas Buddy analyst Patrick De Haan says the national average is headed toward $4.50/gallon
- The highest average gas prices are on the west coast
- The president said “Loosening environmental regulations won’t lower prices.”
- Experts are saying gas prices will continue to rise for at least the next few months
- De Haan said in a statement that Americans have never seen gas prices rise so rapidly
- Turning to electric vehicles might be a solution to guard against the rising cost of fuel
With the price of fuel spiking, how on earth can you weather these changes with rising prices?
If you're panicking about where the price of gas will land in the next 6 months, you aren't alone. A survey reveals that 80% of motorists plan on driving less, as a result of the higher gas prices.
What are your thoughts on the rising gas prices? Where do you think the price per gallon will land in a few months?