$5 gas near, 78% of Americans say

[marmar]

from CNN:



$5 gas near, 78% of Americans say
A vast majority of consumers expect to shell out $4 and even $5 a gallon this year, according to a recent poll.


By David Goldman, CNNMoney.com staff writer
Last Updated: May 5, 2008: 3:25 PM EDT

NEW YORK (CNNMoney.com) -- Americans are already paying through the nose for gasoline, and they think it's only going to get worse.

A CNN/Opinion Research Corp. poll found that 94% of respondents expect they will have to pay $4 a gallon sometime this year - and 78% said they figure it will hit $5.

The national average for gasoline was $3.61 on Monday, according to motorist group AAA.

Consumers' fears that they will have to pay more have intensified. A year ago, 79% thought gas would cost $4 by the end of 2007 and only 28% feared $5 gas.

At the same time, high prices seem to be easier to swallow now than it has been for most consumers in the past. Of the more than 1,000 American adults surveyed in the poll, conducted April 28-30, 60% said high fuel prices have caused hardship for them or their household. That's down from 72% in March and 66% during the same time last year.

Demand for gas is down

But if Americans feel better able to absorb the rising price of gas, it might be because they are driving less. In fact, demand for gas is far below the average for this time of year.

"It takes a big jump in prices to alter commuters' behavior, but it appears we have now approached that level," said Stephen Schork, editor of energy industry newsletter The Schork Report. ....(more)

The complete piece is at: http://money.cnn.com/2008/05/05/news/economy/gas_poll/index.htm?postversion=2008050513

[lpbk2713]

1. This pic seems fitting to the occasion ....

[NightWatcher]

2. gas companies hear this and think, "so the suckers are ready for $5 gas"

then they rub their hands together and say "excellent"

[gateley]

3. Do the other 22% think the price is going to go DOWN? nt

[DJ13]

4. The other 22% hadnt stocked up on KY yet

After they get themselves ready, they'll answer more honestly.

[cornermouse]

5. I suspect it will be $10 a gallon within the

next year or two. And no, I'm not joking.

[aint_no_life_nowhere]

6. Bush may see single digit approval numbers yet

I know he's trying very hard to top himself.

[kestrel91316]

7. I'd say gas use is down. I just walked across the street

(Ventura Blvd, one of this area's REALLY main drags) to go to the bank (with my teeny weeny deposit, sigh) and the street was EMPTY, as in HOLIDAY EMPTY. This is at 4:30 on a Monday, which should be a major rush hour and lots of traffic. I've been here 17 years, I should know.

The phone has barely rung for the past week. It's as dead as I have EVER seen it. People are terrified, that's clear.

Oh, and the In-and-Out across the street had virtually nobody there at lunchtime. Freakin' bizarre.

[Traction311]

8. I doubt it, at least this year

I predict it will rise to $4.00, maybe $4.15 tops, then head back down to $3.00 or less by years end. Then, next year, it goes up again, then down, and so on...