The Environmental Economist thinks that gas prices will hit $4 by the end of July. I’m going to make a bold prediction that gas prices will cap at $3.50 or $3.60 barring major disruptions in the supply chain.
I think that consumers, in general, will balk at prices as high as $3.50 and will drastically change their habits if it gets that bad. $3 sucks, but it’s not that bad when you know that it’s a temporary condition - $3.50, on the other hand is just way to freaking much.
I know that I would have a little sit down with my boss and tell him my days of a two hour commute are over and I assume that others would do the same.