FROM CNN's Jack Cafferty:
Get ready for more pain at the pump. Some experts are predicting gasoline could hit $5 a gallon by Memorial Day.
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Right now, the national average for a gallon of gasoline is more than $3.80. That's just for regular unleaded. In some places, $4 a gallon is already in the rear view mirror. Prices have been on a steady climb for weeks. We're still off the all-time high, but not by much. Gas prices peaked in July 2008, when the national average was $4.11 a gallon. It's almost a foregone conclusion we will blow by that number… and soon.
This comes at a bad time of course. It always does. We have a fragile U.S. economy, and gas prices could threaten its recovery. According to a new Reuters/Ipsos poll, 68% of Americans say the high cost of gasoline has forced them to cut back on other areas of spending. And 62% said they are driving less because of how much it costs to fill the tank.
Businesses are experiencing higher transportation costs. They're faced with the tough decision: Eat those costs or pass them on to consumers. Either way, it spells tough times for most Americans.
Crude oil prices, of course, drive gas prices. And the unrest in the Middle East has been pushing prices up. So has an ever-increasing demand in developing nations.
Republicans blame President Barack Obama. What's new? When Obama took office, the national average for a gallon of regular unleaded gas was about $1.79, less than half what it is today. Former Alaska Gov. Sarah Palin has used Facebook to call Obama the $4 per gallon president. She's not often right, but might be onto something here.
Here’s my question to you: How are you handling near record high gas prices?
Interested to know which ones made it on air?
Jen in Granger, Texas:
We've cut back on eating out and going for local foods at the store. Also put in a garden with tomatoes, okra, cucumbers, squash, sweet corn etc. It may not save us too much but it’s a start.
J.J. in Toledo, Ohio:
We have given up on a vacation to North Carolina. It would have been our first in twenty years. We planned to have some interior renovations done while we were gone. Not this year. We will use our money for gas, utilities and food all of which have skyrocketed.
Steve in Michigan:
I arranged my life to reduce how much gas I burn many years ago. When gas is cheap I save money. When gas is higher I just save more money. It is a win-win deal. I drive a fuel efficient car and live near my work and all needed services. Gas could be $15 per gallon and it would not be that big of a deal for me.
Pierre in Florida:
I drive a scooter around Miami which gets 80 to 90 mpg.
Evinia:
Quit crying and suck it up! We, in Canada, have been paying nearly $6.00 per gallon for years! And guess what - the world hasn't come to an end. Americans think they are entitled to all the good things in life, but don't want to pay for them. They don't want to pay higher taxes. They don't want to pay for health care. They don't want to pay for educating young people. They don't want to pay for infrastructure. You get the picture. At least some of you are waking up and smelling the coffee.
D.:
With improved weather, I started riding my bike to work. It not only saves gas and wear and tear on the car but hopefully it will help me get back in shape. It's a six mile ride each with many bike lanes from which to choose and I encourage anyone who can to do so. You won't regret it.
Richard in Kansas:
Well, since I'm a wealthy oil executive I'd say that I'm handling it quite well. I just keep getting richer while you poor dumb saps just keep paying whatever I demand. Suckers.