High gas prices

So how much do we really spend on gasoline in the U.S.?

According to this article in the Los Angeles Times, Americans spend $1.32 billion a day on gasoline – so this year alone we are on pace to spend $483 billion.

It’s an all-time high.

“Analysts say the most remarkable thing is that high gasoline prices didn’t have the chilling effect on consumer spending that they did four years ago. Americans seem to have accepted the news on high fuel prices with aplomb,” said Tom Kloza, chief oil analyst for OPIS” (Oil Price Information Service).

Interestingly, “U.S. demand for motor fuel, running at around 8.7 million barrels a day so far this year, is at its lowest level since 2001.”

Get the picture?

Jan

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One response to this post.

  1. We need trains and trolleys! Especially trains and trolleys that go where we want to go close to when we want to go there! Like there USED to be, so this shows it IS possible. /rant off

    Reply

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