According to analysts gas may be on the rise up into the $6 and $7 dollar margin if the price of barrels continue to go up. Gas is already topping an average of $3.81 in most states, while others have hit $4.
According to analysts gas may be on the rise if the cost of barrels continue to go up. Currently gas is topping an average of $3.81 in most states, while others have already hit the predicted $4 dollars plus.
If barrel prices hit $200 a barrel crude by itself would cost an estimated $4.76 a gallon and when you add in refining, taxes, and distributing the price could easily hit $6 - $7 plus dollars at the pump. What does this mean? If this happens everyone would be spending approximately $20 dollars for just 3 gallons of gasoline which wouldn't take you very far.
Just over Thursday and Friday, gas has already risen 4.4 cents to $3.875, according to AAA and the Oil Price Information Service and this week barrels are expected to hit a new record for over $135 a barrel.
If these prices continue to rise, a number of people will not even be able to pay their bills due to the majority of the money their spending going towards gasoline and this will even weaken the economy even more because it will surely increase the number of those being evicted from their homes causing the homeless number to rise, malnutrition, or worse.
Alternatives You Can Make To Avoid Going Broke At The Pump:
* Car pool - Put funds together with co-workers that live in your area to avoid wasting gas by using one car and everyone riding together. Determine the amount together that you'll need to pay for 1 weeks worth of gas or everyone can contribute by the day to cover costs.
* Buy a motor scooter.
* Ride public transportation (trolley, train or bus).
* Old fashion walking or riding a bike if your destination isn't far.
* Buy a pair of roller skates.