$5.00 Gas on The Way?

At the rate we’re going, the U.S. will be joining other countries in paying $5.00 for gasoline. While we’re just about to hit $4.00 a gallon, the consensus is that it’s only going to get worse. A CNN/Opinion Research Corp. poll found that 94% of respondents expect they will have to pay $4 a
gallon sometime this year - and 78% said they figure it will hit $5.

High fuel prices are hurting drivers around the U.S. But drivers are simply not driving as much, killing a lot of the pain they would normally feel.

Personally, I’m walking a lot more than I would have if gas were cheaper, which is, for me, a positive by-product of the outrageous gas prices.

Crude has just topped $120 a barrel for the first time ever, and will likely keep going up. More consumers are buying fuel-efficient vehicles, and smaller cars and hybrids are gaining momentum, which is not only good for companies like Toyota, which sells the Prius, but also for the environment,
which is in the news every day.

Watching companies like Chevron (CVX) and ExxonMobil (XOM) reap the rewards of record-level income, consumers have lost any tolerance for these companies exploiting benefits given them by the government. While the bigwigs at the oil companies have myriad excuses for why it’s not their fault, consumers have had enough. And so have I.