I'm old enough to remember when gas went over $1.00 a gallon during the Iran/Iraq war. I also remember during the roaring Reagan 80s when gas prices would occasionally dip below $1.00 per. Suddenly, the old man would make the dog drink unleaded. "It's cheaper than water!" He'd yell as he began splashing the stuff over my Lucky Charms. During the first Gulf War when gas spiked to over $2.00 a gallon, the old man would say, "Well, as a percentage of our income, gas is cheaper than it ever was." The old man's not around anymore, but I sure would be curious to get his reaction to $4.00-a-gallon regular. A few months back in the almost middle of nowhere, I got gouged to the tune of $3.99 for premium. And you would have thought my reaction would have been a lame Darth Vader-like, "NOOOOOOOOO!!!!" But it just wasn't. I grumbled to my girl for about three miles and that was the end of it. Color me an American. As the article below is claiming, $4.00 per gallon this summer is not going to effect affect demand. Alright, I'm off to buy some Exxon Mobil stock.
Zen and the art of dealing with high gas prices [msnbc.com]
Related:
Four Bucks a Gallon? | Question of the Day: How Much Are You Paying For Gas? [Internal]