Sunday, June 8, 2008

Summer Gas Prices

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?


Josh said...

4.99 by July 4th
5.15 by Labor Day

Anonymous said...

Thought you might enjoy a post I stumbled across from a gentleman in India. He was calculating the cost of ownership for bicycle transit. It's a big world, but many of us are thinking about the same stuff.

Oh, and I predict $4.39 on July 4, $4.79 on Labor Day.

Rick O (your former neighbor -

Clancy said...

My guess is $4.60 by July 4th. $5.00 by Labor Day(boy will we have to labor by then to buy a gallon)