Back in the mid-to-late 70's, I can remember as a kid what soaring gas prices did to the country. I lived in California at the time where we were used to paying about 75 cents a gallon when, it seems like overnight, prices shot up to $1.25 a gallon. Auto parts and hardware stores actually ran out of supplies of locking gas caps and the local news frequently ran spots on how to avoid having gas siphoned from your fuel tank. I think we're going to be seeing a very similar situation between now and the end of summer, and possibly beyond that. I've heard that some oil companies are expecting prices approaching $5 a gallon over the next few months. God help us all when/if that happens. It's going to have a domino affect like nothing this country has ever seen. It's certainly affected my life already.
Up until this weekend, I proudly drove a Ford F150 pickup truck with a Triton 5.4 Liter V-8 engine. I got about 17.5 miles per gallon (I could literally watch the fuel gauge move as I drove it). Given that I commute about 640 miles per week, my gasoline bills were getting a bit out of hand. It was not uncommon for me to put about $160 in the tank EVERY WEEK. I'm sorry.....that's just insane. I'm now the proud owner of a Toyota Prius and my guess is there will be a rush on (and shortage of) these vehicles, and cars like it, very soon. As it stands now, I had to visit 3 dealerships to even find a new Prius on the lot. Most dealers appear to be backordered for 3 to 4 months and have actually started waiting lists. While I was negotiating the deal for my Prius (don't waste your time dickering....dealers know they can get full price for these cars right now and they won't budge a penny) I heard at least a half dozen phone calls come in asking if the dealer had any Prius's on the lot. If you do a lot of driving and you have an opportunity to get your hands on a hybrid, you might want to jump on the chance sooner rather than later.
My wife and I together make a pretty decent living. It's not that I couldn't afford the money I was putting in my tank every week, it's just that it made no sense to do so any longer (I'm a cheapskate at heart). I have to ask myself, though, how is the average working guy who might only make $12 to $15 an hour able to afford to fill up his tank every week? Keep your eyes open on this one, folks. I think it's going to get ugly.