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Gene J. Puskar / AP
This Feb. 27 photo shows gas prices at a Pittsburgh Exxon mini-mart. Gas prices have been on the rise.
The recent spike in gas prices has caused plenty of griping about pain at the pump, but a new survey finds that it’s going to take a much bigger jump before many people start rethinking their spending habits.
A Gallup poll released Thursday found that, on average, gas prices would have to hit $5.30 before people would be forced to make significant cutbacks in other types of spending.
The survey, conducted just a few days ago, also found that, on average, Americans said they would be forced to make significant changes in how they lived their life only if gas hit $5.35 a gallon.
Still, that means about half of Americans would have to start making significant changes in their spending or other habits long before we hit $5-a-gallon gas.
Prices at the pump finally eased a couple of days ago, after 27 straight days of increases. A gallon of regular gas currently costs $3.76 on average, up from $3.52 a year ago, according to AAA’s Daily Fuel Gauge Report.
Gallup surveyed about 1,000 people to come up with its results.
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Unlike the Federal Government, I have a budget that I adhere too. Our household earns a set amount each month, and we pay all our bills in full each month. With gas prices rising, and consumer goods rising as a result as well, we must be very careful how we spend our money and what we spend it on. Gas prices rose under GWB over $4.00 and he increased drilling everywhere he could. When he left office, regular gas was $1.84. Pres. Obama is just throwing up his hands and saying "I'm an incompetent fool who really doesn't give a damn about you." One and Done!
Oh please, Dahly. Spare us the nonsensical equation of government budgeting being the same as you budgeting for groceries. Unless you had someone writing checks for 8 years for little things like wars that you're finally having to pay, it's a dumb comparison. We are currently drilling far more than we did under Bush - we're drilling and exporting more gas than ever before. Fuel efficiency is up, consumption is down. Bush saw record profits for big oil at the same time Americans were paying record prices at the pump and did nothing to help. Prices tanked when the economy bottomed out. Current gas prices are rising due to speculators - why don't you guess who won't regulate speculation? I'll give you a clue, it's not Obama.
Your both wrong. It's all our own fault. We cather to Big Oil and OPEC by driving bigger SUV's and big trucks and basically said we don't care what you price our gas.
Idiots.
Go electric/solar and the heck with OPEC and Big Oil.
But not too many smart Americans.
Just a lot of dumb ones.
Pedestrian- Yes, we are drilling more than under Bush BUT it was Bush that put the policies in place that have caused additinal drilling, NOT Obama.
I stated fact's, spin all you want. GWB did something positive and got results. BHO says he won't even try.
Okay, just one minor thing. Gas prices were $1.60 when GWB came into office and they rose as high as $4.11 (for regular, US average) during his presidency.
Just to stick to facts.
Gas hit $1.84 in early 2009 because the world was in a global recession of the highest magnitude seen in 80 years. Demand was down because everyone stopped driving across the world. It had absolutely nothing to do with "additional drilling."
Mr. Obama is sitting in the Rose Garden at another White House Party laughing his head off every time the price of gas ticks up a cent.
Sheeesh, these type articles are just making this Democrat vote for ANY Republican contender against Mr. Obama.
more2bits-4021678......
Yep, go Electric vehicle....like the one that Fisker makes, the DOE provided $ 529,000,000 to, the vehicles costs $ 100,000 apiece, and the vehicles recently FAILED a test run on the track. The company is in trouble and will probably belly flop. Oh well, just another part of Mr. Obama's "Go Green" failures.
Wait a minute, Mr. Obama just promised to "install" charging systems around the country (no sign of where funding will come from) IF folks buy electric vehicles.
Yep, not too many smart folks in this Administration.
Mr. Obama's failed "Go Green" initiatives are costing the taxpayers BILLIONS of dollars and are making this Democrat vote for ANY Republican contender.
Ido the turth is current gas prices are rising due to speculators - why don't you guess who won't regulate speculation? I'll give you a clue, it's not Obama. The Republican field is worried about everything except the true problems jobs, the economy, healthcare and wall street regulation.
Yes that is true but the day Obama became president gas was $1.89, it is over $4.79 and predicted to be over 6 dollars per gallon by fall. So yes lets stick to the facts, what is he doing about it? There isnt a silver bullet suck it up and stop whining. Thats exactly what he said and people wonder why the top 15% are fleeing the US in record numbers?
Gotta love so many people claiming to know the solution when they don't have the knowledge of everything working to make prices what they are today. We are told bits and pieces of the story, and we draw conclusions from a partial picture. None of us on this forum likely knows the whole truth and what it would take to fix the problem. We could all fix one part of it, but that would just leave another part to get worse.
For instance, "Drill baby drill" could flood the market with oil if other countries don't cut back to keep prices high. Also, what good will drilling more oil do if we cant refine it?
Solar and wind won't work because the sun doesn't shine all day and the wind isn't always blowing. Also it would take a whole lot of land to accomplish it, and the environmentalists who want to protect every blade of grass won't let it happen. I have witnessed first hand environmentalists trying to block a small solar field because a cypress dome was going to be destroyed. Also, how would this lower the price at the pump if we have solar fields? It won't cut back on regular unleaded usage since power plants don't run off the stuff we put in our tank.
Nuclear??? all I have to say about that is you will always have the NIMBY people.
Algae? I certainly support it, but it ain't going to help me today or tomorrow. It is nice that it could be done in a city or other places where land is already in use, but it is still a ways away.
I certainly don't know what the silver bullet will be to kill the oil beast, but one thing I do know will screw it up is Republicans and Democrats in our government who will fight tooth and nail to stop the other from doing what somebody behind the curtain is telling them to do. You know they can't be objective when parties vote along a party line 99% of the time, and the only good people to break that trend retire because they are fed up with all the polarization. When the parties are polarized, they couldn't give two ______— about you or I. They only care about making the other party look bad.
Where the hell did they conduct this poll? Hollywood? $5.30/Gal. is where most people would begin to cut back?? Try$3.30/Gal. The results of the on-line poll are spot on. And by the way, Obama will have enough trouble getting re-elected even if gas stays where its at now, north of $4, he's toast. At $5+, even he will curse the day he ever decided to run for that office.
Why Rising Gas Prices Could Backfire on the GOP in November
Republicans shouldn't be so quick to lick their chops at the prospect of rising gas prices.
Here's why:
1). What you see, everybody sees. The sight of Republicans rooting against America and hoping that rising gas prices will derail the economic recovery is not pretty.
The fact is that Republicans have done everything in their power to block President Obama's job-creating proposals in Congress, and they were dragged kicking and screaming to support the extension of the president's payroll tax holiday that was critical to continuing economic momentum.
Senate Majority Leader Mitch McConnell actually announced that his caucus' number one priority this term was the defeat of President Obama. The sight of Republicans salivating at the prospect of $4-plus per gallon gasoline will not sit well with ordinary voters.
2). Democrats have shown that they are more than willing to make the case about who is actually responsible for rising gas prices -- and the culprits' footprints lead right back to the GOP's front door.
Who is really to blame for higher gas prices?
Domestic drilling has increased substantially under President Obama's administration. And our dependence on foreign oil imports has gone down every year of his presidency. The president has put in place new mileage standards for cars that will save massive amounts of potential oil imports -- standards that Republicans have opposed for decades.
But that fact remains, that for all his administration can do on its own to increase energy independence, it is impossible to free America from the stranglehold of foreign oil dependency without the kind of massive national commitment to domestic, renewable energy that must be passed by Congress. The Republicans have said "no" because their biggest energy patrons -- the oil companies -- oppose a crash program to create renewable energy sources for one simple reason. Every day that we fail to act, the value of their oil goes up -- it's that simple.
If you doubt that Mitt Romney and the Republicans are bought and paid for by Big Oil -- just ask the infamous Koch brothers -- who finance major Republican "super Pacs" -- how much they stand to make personally every time the long-term price of a barrel of oil increases by another dollar.
Simply put, the Republicans have put the profits of their patrons in Big Oil well above the economic and national security interests of the United States of America.
The Republicans even continue to do everything in their power to block the elimination of the astonishing taxpayer subsidy of the oil industry, that continues notwithstanding the fact that big oil companies are more profitable today than any other companies in the history of humanity. And the Republicans do it all the while they blather on about how if we once again install them in the White House, they will bring us $2 a gallon gasoline.
Whoever is pushing those kinds of lines must be studying the techniques of the late, famous circus impresario, P.T. Barnum, who famously said, "There's a sucker born every minute."
3). Speculators. A final contributing factor that has recently amplified increases in gas and oil prices is the role of speculators.
In a purely competitive market, oil prices should settle in the long run at the marginal cost of producing the next barrel of oil -- currently between $60 and $70 a barrel. Oil closed last week at about $106 per barrel and ran up to twice the marginal cost of production during the Bush era 2008 oil spike.
Currently about 80% of positions on oil commodity markets are held by "pure speculators" -- who bet on changes in oil prices -- rather than "end users" who actually consume oil and use the markets to hedge against price increases.
Academic studies have demonstrated that there is a big speculative premium in oil prices, above and beyond any "risk premium" that might normally develop from fear of some immediate, short-term shortage. That speculative premium could be materially dampened if steps were taken to limit the market's domination by pure speculators.
The Dodd-Frank Wall Street reform bill -- which was opposed by most Republicans in Congress and all of their presidential candidates -- allows the Commodities Futures Trading Commission to limit the percentage of market positions held by pure speculators as opposed to end users.
Voters don't want to be held hostage by the big oil companies or foreign oil. They don't want to have their pockets picked by oil market speculators. They understand that when world oil prices go up, it benefits oil-state dictators: it's like allowing Iran's Ahmadinejad to levy a tax on American consumers. And voters sure as hell don't want to pay a taxpayer subsidy to oil companies like Exxon that made more in profits in one minute last year (about $85,000) than the average American worker earns all year long.
If Republican strategists think they can reverse their fortunes by focusing on the gas price debate, the odds are good they will be wrong.
www.huffingtonpost.com/robert-creamer/why-rising-gas-prices-cou_b_1323360.html?ref=politics
Without realizing you are already getting screwed right now.
The ethanol they put in the gas increases your mpg by about 15 to 20%. So in effect your are filling up more than if you would be burning gas without any ethanol additive.
To make it even worse you are being screwed twice is that the ethanol producers getting tax break (your money) to put that stuff in the gas.
So you already pay more than you should and get less miles per gallon out of a gallon of gas.
Start looking for pump that advertize NO ethanol in their gas. And fill up in the morning when the gas is cold and denser so you will get just a liitle more gas in your tank.
Obama wants to cut oil consumption by making it so expensive no one can afford to use it.
Cynical--There's an error in your calculations somewhere. If ethanol increases my mpg, that means I go farther on less. So it does not make me fill up more. You say ethanol increases miles per gallon 15-20%, then turn right around and say ethanol decreases your miles per gallon. I would be more inclined to believe you if you were consistent.
Cynical you are wrong about the ethanol tax credit, they took that away from us at the beginning of 2012 so that .045 cent credit is no more. Also your MPG will vary between winter seasons and spring/summer as the blend are different. Winter blends give you less mpgs. just a little education for you.
Starting next week I'll be commuting via bicycle.
The weather is finally spring-ish enough to pull it off.
Ruken,
I am looking to buy a scooter because my work is too far to use a bicycle.
At 5 bucks I'm switching to my bicycle.
The higher the gas goes, some people will have to decide what they can, i.e., credit cards.
The Regulators for our dictator has decreed that we shall lower our standard and way of living. It's best that we heel in line now or the pain will get worse until we do.
As they say the beatings will continue until morale improves.
Obamas guy in charge of energy has said in public that he dosen't care how much pain the people have to suffer for energy. We must bend to his way of thinking or else. Obama has said that under his plan energy prices will soar.
I say it's time for a new plan.
Is that what Fox told you? lol...
Really? Because when Bush was president and the gas prices shot up, the Republicans told us that the president has no control over gas prices. Has that changed somehow?
No Betty its still true and now the republicans are employing the same tired tactics the democrats used. Pathetic isn't it? Thankfully politicians can't do nearly as much to change our situation as they and their simple minded followers think they can.
Betty under Bush you democrtas ranted about him (GWBush) just wanting to help his big oil buddies. Apparently Obama must have some big oil connections too then?
Ped, FOX has run stories with face to face interviews with DR. Chu where he proudly states that their goal is to have our gas prices match Europes and that they have no plans to do anything about current prices. Media Matters won't allow MSNBC to run such stories.
When, oh when, did President Obama every say he does not care about rising gas prices? Please give some specifics with the words coming out of his mouth, not references to stories on Faux News.
Kraig
You make that statement here, not me.
Why do you lie? You must be a Democrat and understudy of Obama.
Before congress today, Dr. Chu admitted that increasing supply WOULD lower current gas prices. He also acknowledged that oil drilling is down 11% on Federal lands, though up overall due to drilling on private lands. Spin doctors are now officially out of control!
I hate these polls when they never give you enough options. What about the answer is I don't care and that REGARDLESS of how high gas prices go it won't bother me?
I drive a Nissan Leaf powered by my solar power panels on my roof so OPEC and Big Oil can go stick it in your u-know-what as far as I'm concerned it's a dead issue.
It's high time Americans went electric/solar and did away with gas entirely!
You should care that the gas prices could derail the economic recovery, you should care that gas prices are in the cost of everything from groceries to postage stamps, you should care the every "ELECTRIC" car you want to buy was hauled by a truck that was not ELECTRIC.
I agree with alternative sources of energy but those days are not here and we have to care about whats going on today, and finding better solutions for tomorrow.
Denis-Thanks, exactly right, best post of the day.
President Obama doesn't pay for gas. Lucky him.
I'm in a carpool for work, so I can withstand the gas increase, however, everything else has already gone up a little, and rising. Ouch
I doubt it... if you can't do a simple energy balance, don't think others can't either!
Since Obama took office everything has gone up, the only thing lower is your paycheck.
Yes Steve your right. Under Bush my retirement funds went down, down, and down, while under Obama they've gone Up Up and Up. Will take Obama any day over a repeat of Bush or his current afterstudies running in the 2012 Republican Primaries.
It wasn't the rising price of gas that started our change: it was the rising cost of meat and vegetables. It is the fact that although we have been loyal customers of our bank for years and never defaulted on a loan, all of a sudden they decided to institute new policies that included higher fees and no student loans.
We drive a 2003 Prius that has 150,000 miles on it and have no intention of buying a new car until this cannot move another inch.
The banks and auto industry got a bailout but we didn't so the belt tightening began a few years back.
You should be buying a Leaf, Fit EV, Focus EV, or similar if you really cared a hoot and installed PH panels on your roof to charge it.
Why? Seems like Betty likes her money to be in her pocket...
Well people can say "gas prices I don't care how high they go it won't affect me" but it will from groceries to all kinds of consumer goods to the postage stamp. Anything that involved freight will be hit over the long term.
What i believe will be the biggest to suffer is charity, you see the most optional thing in anyone's budget is always charity there is no set amount you have to pay and its not due by a certain due date, in fact you don't have to give at all if you don't have the extra cash because it has gone into groceries to live or gas to get to work.
Food for though, no fuel surcharge on that one :)
We can control one factor in gas prices and that's speculation. Join this petition
Nice, yes let's do a poll to let the oil companies know just how much they can go up before we back down on our spending. Whatever people they polled just told them they can go up to $5.00 a gallon and not risk any profit loss, but make a bank load of profit.
The political media doesn’t resort to selling subliminal messaging like preparing the public’s expectation and future acceptance for $5.00 gal. and/or higher gasoline prices, with many reasons justifying Wall Street’s speculative manipulations and price gouging. No they wouldn’t be so greedy, immoral and underhanded as to blame price gouging, not on their own greed, but on disrupted supplies because of Gulf hurricanes, Libya’s conflict or the possibility of Israeli aggression towards Iran etc. etc... The timing of the threats are not orchestrated either… or are they.
How many government agencies like The Dept. of Labor and Dept. of Unemployment and the private sectors payroll processor ADP, etc. etc… now slant their reports and tout how well America’s economic recovery is coming since the 2008 Wall Street’s manipulation of America’s housing market and Wall Street’s and the government’s secret 720 billion dollar, taxpayer funded bailout.
We all know how well corporate America’s and Wall Street’s economic recovery is doing, but how about your’s, have your wages gone up, how about your savings or your insurance and retirement benefits?
Do you think that these campaign contributions have anything to do with Wall Street’s manipulating higher gasoline prices?
How did president Obama's official, DO NOTHING BUT ADJUST AND PAY, policy come about on Wall Street Banks manipulating the escalating gasoline prices or did he just make the sale of his political quid pro quo allegiance to corporate Wall Street. Lets be honest, some of Obama's last election campaign contributors were, Goldman Sachs $955,473 Citigroup $653,468 JP Morgan Chase & Co. $646,058 Morgan Stanley $485,823 Lehman Brothers $276,088 Bank of America $274,493 Wachovia $214,151 AIG $112,170. What did Wall Street buy, Obama's complicity in fleecing the American public
Anybody know where some of those old French guillotines can be
found and refurbished just in case they are needed again?
Remember Obammy the Marxist's statement, "under my system energy prices would NECESSARILY skyrocket.
Obama's Sec of Energy said the goal isn't to lower gas prices it's to reduce our dependency on oil. This admin doesn't care about gas prices they care about control. And money. Obama has lost nearly a trillion dollars on green companies and today anounced that there's a $10000 immediate tax credit for buying a Volt.
If Government Motors GAVE me a volt I would NOT take that POS.
Don't worry about getting a volt from Government Motors Mike. They are halting production for 5 weeks due to low sales with 1,300 employees "temporarily laid off". Only 7,671 volts sold in US in 2011 and only 1,626 this year. I wonder if there is going to be a car that can use algae for fuel 'cause my tune ups and having my tire pressure at good levels isn't really helping my gas cost.
The Volts new motto: We can get you there, we just cant get you back.
Don't care what it cost, the toy needs fuel.
This is a horse**** poll. Probably government-released.
I have been very thankful for my mini cooper and my short commute in the last several weeks (my state, Washington, has seen higher spikes than many other places because of a refinery fire).
On another note, the anti-government paranoid hysteria is both hilarious and sad at the same time. Will you people please come back to reality? Yeesh.
You're asking people, most of whom can't tell you how much they spend on gas each month and who's math skills make them buy three donuts when they see a sign that says "30 cents each, 3 for a dollar," to say when it will be too much and they're taking a wild guess. Last year, it was between $3.55 to $3.75 that the most educated economists said showed evidence of causing problems. It's holding us back now from a stronger recovery: every time the economy starts to recover, oil prices are manipulated upward to bleed us as much as they dare without killing the patient.
Two Obama admin solutions I've heard are: move closer to school or work, or ride a bicycle. Where's the outrage by the left that they hed when gas cost this much under Bush? I read plenty of posts saying Bush was helping his big oil buddies. Who is Obama helping? Green industries that can't produce or can't compete?
I drive to work, Church and the grocery store. My vehicle is paid for so gas will always be cheaper than a new car payment.
How much more am I supposed to cut back? I need to eat, I need to work, and I need to go to Church to pray that we will get some politicians that let us drill for our own oil.
While you are at Church, Pary that they will be able to buy gas to bring food to your grocery store. Oh and that you have enough money to pay for the increase in food prices caused by cost of delivery and farming.
I already made significant change: I put PV solar on my roof to power my all-electric Leaf. Now I pay $0.00 for gas. And, with the amount of $$ I save on gas I'll have the PV paid off in a few years. After that: $0.00/gallon for the next 20!
Is that the next 20 Yards? Thats about as far as you could get from a Leaf's roof size solar panel.
Solar panels over the roof of a typical home cost how much? 20K or 30K. and how long before you have to replace them?
Just wondering about that.
Johnny---I also have PV on my roof and a Nissan Leaf to boot. Zero cost for gas as well as my electric bill. I love my Leaf. I will never again buy an IC vehicle. Electric is the way to go.