If Gasoline goes to $4/gal, will you change your vacation plans?

[aubriee]

In Toronto this morning it is now $1.21 a litre so multiply by 3.78litres in 1 US Gallon = $4.57

Wow, I just filled up on the way home from work this morning and was upset I had to pay $3.05 a gallon. When I bought gas about a week ago it was $2.92 a gallon.

 

[GetGlowing]

Gas jumped 10¢ a gallon here overnight. And that's up 10¢ from a couple days before. ack.

 

[eliza61]

Remember folks, the problem is a bit more severe than just gas. If it was just a fill up most of us could absorb the cost. remember...

your groceries are almost guaranteed to go up.
economist are predicting, clothes will definitely skyrocket because most of our textile is important
Any thing that is trucked in or shipped over water is going to go up (i.e. all our fancy little gadgets we love to play with).

 

[bytheblood]

I was reading a news article this morning that was saying there is a prediction that oil will be $240 a barrel by summer. YIKES.

We have a trip planned in December. We currently have APs, our reservation is booked and technically paid for as we are DVC member, our 1st leg of our flight is booked and paid for...so we will go forward with our plans.

If I was not a DVC member, it would change my plans significantly. Main reason is, everything is going to go up, not just airfare.

 

[lost*in*cyberspace]

Wow, I just filled up on the way home from work this morning and was upset I had to pay $3.05 a gallon. When I bought gas about a week ago it was $2.92 a gallon.

I'm not sure why rising gas prices are so funny. You'll be paying a lot more than $3.05 a gallon soon. As someone already noted, the price of everything will be rising. This is really going to hurt a lot of people.

 

[GetGlowing]

Gas at the station near my house jumped twice today. What the heck. It's now $3.26.

 

[kirstenb1]

It won't make me change my vacation plans.

However, my dream of someday owning a giant gas sucking SUV is probably over. We've always driven very economical, high mpg cars. But I've always wanted a big SUV. Occasionally we've rented them for vacations, and they're always so comfy, and fit all our extra stuff.

 

[wdwfamilyinIL]

Gas hit 3.40 a gal here. I hadn't bought airline tickets because this was the year we were going to drive, and now I just don't know what to do....
I really want to drive, our trip is around memorial day, and the rumor is we will be at 5.00 a gal. I just don't know.

 

[WDWisTheBest]

Gas hit 3.40 a gal here. I hadn't bought airline tickets because this was the year we were going to drive, and now I just don't know what to do....
I really want to drive, our trip is around memorial day, and the rumor is we will be at 5.00 a gal. I just don't know.

Oil production in Libya is expected to shut down completely and could be lost for a prolonged period of time, Bank of America Merrill Lynch said on Thursday. "We expect Libyan production to be shut down completely and we might lose sweet crudes from Libya for a prolonged period of time," said Bank of America Merrill Lynch analyst Sabine Schels.

Schels said that the world faced the prospect of real supply shock in which the loss of 1.6 million barrels per day of sweet oil could potentially trigger a steep rise in prices and force a sharp reduction in demand to balance the system.

"Some of the supply can be replaced with Saudi light crude and some from the Strategic Petroleum Reserve , but if the disruption is prolonged, we will need demand to drop to balance the system," Schels said.

Soooooooo, could prices hit $4.00/gal by summer?

 

[OrangeCountyCommuter]

news sez gas prices close to $4 gallon in parts of the countryamazing how the cost of gas already in the pumps suddenly increases.

Did it point out that it was close to that several weeks ago in parts of the country?

For example, I travel to California. Gas prices there have been much higher so when they show the $3.79 a gallon as evidence of "increase" there I just it was always a lot higher.

The media tends to "follow" only the part of the story they want to.. (near me they like to go to this one gas station that's always higher. It's in a high cost area and is the ONLY station around. It's geneally 15 cents a gallon higher then places out by the interstate, but it makes a better "visual" to allow them to show the 'impact'... of course part of that is the 'impact' of the higher rent that station pays...)


Now I think prices are rising, but I also enjoy the media "hype" aspect. (I sometimes wonder if they drive around town looking for the HIGHEST for thier "live shots")

 

[irish dancer]

Gas hit 3.40 a gal here. I hadn't bought airline tickets because this was the year we were going to drive, and now I just don't know what to do....
I really want to drive, our trip is around memorial day, and the rumor is we will be at 5.00 a gal. I just don't know.

We are in the same boat. Took a quick look at United and SWA, can get 5 RT on United for less than $1200. Thinking this might be the way to go, at least we know the cost and can lock it in. Who knows what gas prices will be for us by June......

 

[Disneymadhouse]

Hi, I'm not very tecnical when it comes to working these things out!
Where I live in England we are currently paying £1.30 per litre and is sure to go up along with everything else! I don't know how that compares as I think US gallons may be different to UK gallons? But in the past I'm sure we have been shocked (and a mite p'd off!) at how cheap US gas is in comparison to ours!

Claire

 

[Vivianne]

Here in CT home today..heating oil 3.69 gal. and going up. It's not only gas
but alot more increases are happening in all phases of the economy.

Is there a tipping point? Sure, it's just 2 of us and yes, there will be a limit.
We don't need so much stuff and can eat less too.

Our incomes are shrinking....furloughs, wage freeze, higher taxes, etc.
I'm the daughter of someone who went through the depression and taught
me to do with less. I'm not so sure of others who have not faced these
kinds of problems. There will surely be hardship for those used to having
plenty. Unless a person is very wealthy. There's so much taxation that can fund everything people want.

I can't think of what will happen next winter. Vacations..we can cut but
facing another harsh winter and affording the high heating prices is a whole different story.

 

[wdwfamilyinIL]

We are in the same boat. Took a quick look at United and SWA, can get 5 RT on United for less than $1200. Thinking this might be the way to go, at least we know the cost and can lock it in. Who knows what gas prices will be for us by June......

I have been very tempted, but even if gas reaches 5.00 which I really hope it doesn't, with my vehicle we would pay around 600. round trip in fuel. By the time I would pay bag fees,parking at airport,and just the ticket....so far driving is saving a little. But I am watching both, if a good enough deal comes, I just don't know for sure.

 

[Marshel]

Gas prices are going to increase regardless of Middle East turmoil. China and other emerging economies are adding 10 million+ automobiles a year increasing demand; even if we try to increase drilling dramatically there is an order backlog on both on and offshore drilling platforms, it takes approximately 3 years to get an offshore drilling platform in place without taking into account the additional time to get environmental and other govenment appprovals. There is also a finite limit to refining capacity in this country, and oil companies have little incentive to increase it, since limited refining capacity means high prices and new refinery contsruction is very expensive even without having to comply with environmental regulations which adds additional costs.

 

[ctjsowens]

Its not going to change our plans because we bought our airfare about a month ago $720 round trip from Clt to Mco for four people. I'm so glad we bought when we did because the fares are up and will continue to go up. Now if we hadnt already purchased airfare and were going to drive then we would seriously think about it.

 

[WDWisTheBest]

Gas prices are going to increase regardless of Middle East turmoil. China and other emerging economies are adding 10 million+ automobiles a year increasing demand; even if we try to increase drilling dramatically there is an order backlog on both on and offshore drilling platforms, it takes approximately 3 years to get an offshore drilling platform in place without taking into account the additional time to get environmental and other govenment appprovals. There is also a finite limit to refining capacity in this country, and oil companies have little incentive to increase it, since limited refining capacity means high prices and new refinery construction is very expensive even without having to comply with environmental regulations which adds additional costs.

All true. So, is it not a question of IF gasoline prices reach $4/gallon but when?

 

[OrangeCountyCommuter]

Hi, I'm not very tecnical when it comes to working these things out!
Where I live in England we are currently paying £1.30 per litre and is sure to go up along with everything else! I don't know how that compares as I think US gallons may be different to UK gallons? But in the past I'm sure we have been shocked (and a mite p'd off!) at how cheap US gas is in comparison to ours!

Claire

Generally I use a 4 to one ratio, which maans you would pay about 5 pounds per US gallon, close to $8?? (Not sure what the conversion rate is right now)

The real truth is we have very cheap gas in the US and as a result we do thinks like buy a HUGE SUV to take the kids to school.

(I do wonder how most of us survived growing up.. my mom was able to haul us all over the US in a very small Volkswagon. Kids now need a HUGE SUV to go to school and must have dual DVDs for the trip! No, they don't "need" it, we just "want' it!)

 

[irish dancer]

Hi, I'm not very tecnical when it comes to working these things out!
Where I live in England we are currently paying £1.30 per litre and is sure to go up along with everything else! I don't know how that compares as I think US gallons may be different to UK gallons? But in the past I'm sure we have been shocked (and a mite p'd off!) at how cheap US gas is in comparison to ours!

Claire

Generally I use a 4 to one ratio, which maans you would pay about 5 pounds per US gallon, close to $8?? (Not sure what the conversion rate is right now)

Yep. 1gal is equivalent to 3.84ltr. 1.30GBP converts to $2.09USD so that works out to $8.03/gal. Hence the reason I think most Europeans drive smaller cars not the big gas guzzling SUVs found here in the US.

Really not looking forward to the higher prices and while it's lower than overseas it is much higher than we are used to here in the US and will be hard to make the adjustment.

 

[Nik's Mom]

Gas just hit $3.11 here. We have already changed our vacations plans for the summer. We were originally planning on doing a road trip to New York City, and also flying to California to visit our family. Well, we cancelled the road trip. We booked our airfare at $1501 for 4 tickets to LAX. We usually spend less than that for tickets during the Christmas holiday.