How is this going to affect you. I dont have much choice but to drive. I live in the country. I have to drive to take the kids to the doctor, school, etc. My husband has to drive to get to work. Right now its $3.62 a gallon and trading at more then $107 a barrel. I have heard by the end of the month (April) if we dont get any sort of real oil added were facing $5 a gallon gas.
Do you think this is going to tank our economy? On top of that hyper inflation is coming in June. I personally think this is going to seriously damage an already bad economy.
Answer by pixie_trix at 2:54 PM on Apr. 1, 2011
Answer by ImaginationMama at 2:37 PM on Apr. 1, 2011
In regards to me/my family. Gas prices really only affect me because of the rise in cost of goods and services due to those increases. I would have to deal with the cost of goods/services rising with or without the increase in gas prices really.So the overall affect of gas prices on my pocket book, isn't that great. IF I had to buy gas. I'm sure the impact would be very notice noticeable.We are very fortunate to live in an area in which we do not need to own a car (we haven't owned a vehicle of any sort in over 20 years.Do not ever see us owning another any time soon).
In regards to the economy.. Steep gasses prices will have an overall negative affect on our struggling economy. Our economy is dependent on consumption. Consumption/consumer-retail sales makes up 70% of our economy. The more people have to spend on gas, the less disposable income they have, so consuming slows down even more. So does the economy..
Answer by pixie_trix at 2:45 PM on Apr. 1, 2011
Answer by ImaginationMama at 2:38 PM on Apr. 1, 2011
Answer by rkoloms at 5:50 PM on Apr. 1, 2011