Let's have some bold predictions.
How much will gast cost on July 4th? How about Labor Day?
I've seen predictions ranging anywhere from $2.50 to $5.50.
It's difficult to predict. Consider... I've got a Consumer Reports Magazine - the May, 2008 edition, which was probably printed in March or April - and in calculating the annual cost of fuel for vehicles, they were figuring at $3.00/gallon for regular unleaded. They were WAY off!
A more signigficant question might be, how much will gas have to cost before there's a meaningful change in average Americans' driving habits? (We're already seeing a very real trend toward higher-mileage cars in the showrooms. And fuel consumption is down by 6% or so, depending on who you ask. And I s'pose that might be meaningful when you consider that up until recently, fuel consumption has always gone up, up, up.)
I did some checking.
When I abandoned my motor vehicle as daily transportation for all intents and purposes - in 1986 - gas cost about 92.7 cents per gallon. And bike transportation made fantastic economic sense back then. How much more sense does it make in 2008?