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“But presumably he was speaking to a friendly audience—to people who regard the burning of gasoline as sinful and who, at least in theory, are attracted to the idea of $8-a-gallon gasoline.”
“But the survey was carried out in late May, when gasoline prices were about 30 cents a gallon higher than the $3.55-a-gallon nationwide average reported Friday by AAA.”
“Gloria Bergquist, vice president of communications and public affairs for the industry group, said the equivalent of $8-a-gallon gas in Europe drives consumers to purchase smaller, more fuel-efficient vehicles in large numbers, resulting in an average fuel economy of 36 mpg.”
“Prices have already breached the $4-a-gallon psychological threshold in many parts of the country.”
The Wall Street Journal: Gasoline Futures Slump, Leading Crude Lower
“Some reports have suggested that consumers are balking at $4-a-gallon gasoline—a level already reached in many parts of the country—and may be cutting back time on the road.”
“Meanwhile, gasoline prices at the pump have retreated from the $4-a-gallon threshold, coinciding with the recent selloff in oil.”
“People are looking at $4.50-a-gallon gasoline, he says.”
“You might also have to ask yourself: Do we have a bigger problem than $4-a-gallon gasoline?”
“Tom Kloza, chief oil analyst at Oil Price Information Service, says a $1-a-gallon increase year over year on Labor Day is something Americans haven't faced in the past five years and should dampen travel.”
USA Today: Americans think twice about hitting the road this weekend
“It would not be a good thing to see $5-a-gallon gas right now.”
The Wall Street Journal: GM Chief: Industry Ill-Placed for Oil Shock
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