While gas across the United States is quickly approaching $4 a gallon in some areas, AAA expect it to continue and possible reach new records. Gas prices can reach up $5 a gallon at least before all is said and done.
People who do a lot of traveling or commute to work are going to feel the pinch at the pump. The recent unrest in the Middle East has touched off fears on Wall Street and that’s causing the gas prices to rise. As the issues in the Middle East don’t seem to be settling down anytime soon, it means that they gas prices will continue to rise.
The poorest people are the ones that are going to be hit worst by the gas price increase. People with disposable income will likely invest in more fuel efficient cars or even hybrids. Those without the means will have to live with their gas guzzlers, which are older and more likely to have decreased gas mileage.
It may be a few months before we hit those high numbers and gas may fluctuate a bit, but not enough for it to get back to normal prices. It doesn’t look like it’s going to be a good year for tourism.