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Question of the Day: What Will You Do If Or When Gas Prices Are $5.00 a Gallon

by Erik Folgate

Some sources are predicting gas prices to rise to $5.00 a gallon by the end of July. We’re all cringing at the fact that gas is $4.00 a gallon right now, and $70 a tank is no fun, but it’s still not enough to cause most people to cut back on their driving. But, I think that $100 a tank will cause people to change their behavior.

My Answer: My wife and I have already cut back a little bit. We try to map out the most efficient route when we go places, and I’ve noticed that we do less joy-riding around town on the weekends. I think that if gas goes to $5.00 a gallon, we will definitely sell our Nissan Xterra and get a car with 25 to 30 miles per gallon. Our Hyundai Sonata gets 28 on the highway and 23 to 24 in town. I know that we’ll definitely be taking less trips to Orlando and Gainesville to see friends and family.

What will you do if gas goes to $5.00 a gallon besides curse at the pump?

Categories: FAQs


Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college. Another one of Erik's projects is the site, Stuff We Google.

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Comments

  • Jeff

    We will pay only $55 to fill a tank that lasts nearly two weeks (drive a Honda Fit Sport only a dozen miles or less per day)… So no pain felt here yet. We both live and work within 3 miles of home, so the old adage of ‘location, location, location’ is more important than ever. The notion of ‘suburbia’ died with the SUV a few weeks ago. Then again, even at $5/gallon we are still spoiled brats as many other industrialized nations would then be paying closer to $10/gallon… So people… Stop crying and take responsibility for the gluttony we’ve had the pleasure of as a society for so long (cheap gas, food, etc). Times need changing and now is a good time!

  • http://greenpandatreehouse.com Laura

    We’re already looking at biking as an option. We just moved, so we’re trying to look on Craigslist for some bicycles. Biking to work wouldn’t be practical, but it could be doable on weekends.

  • author

    Jeff, I agree that we’ve had much cheaper gas than most other countries in the past. Hopefully, it will cause us to speed up the process of researching alternative fuel sources. I just wish there could be some relief in the interim.

  • Lynn Folgate

    My biggest fear is a gas shortage and long gas lines. My generation remembers it well and hope it doesn’t come to that. What I am going to TRY and do is to stop complaining ! What helps me most is to fill up at half empty, so I don’t have to see how much an entire tank costs !

  • http://www.masteryourcard.com/blog Rachel @ Master Your Card

    We have not noticed so much of a difference as we have a hybrid car which saves us a lot of money anyway. However, I am thinking of ways that we can make our car journeys more efficient – doing several tasks at once etc. Also trying to avoid unnecessary journeys.

  • ekrabs

    I will essentially do nothing different besides grudgingly budget more of my money towards gas.

    I already drive a fuel-efficient vehicle. I already drive only when I have to. I already budget as efficiently as I can so I can push my surplus towards saving and investing. And that’s before the gas crunch….

    Yes, I admit I’m gloating a bit, but it’s also the honest truth. So, what else am I suppose to do?

    Some day, I’d like to move somewhere where I can rely on a bicycle for most of my needs. But that day isn’t here yet.

  • Jacquelyn Hart-McCoy

    We can help how much we drive for work, but unfortunately we have had to cut down on driving to see friends and recently had to stop going to our small group which met in Jupiter…traveling there from Wellington was getting insane, but we were really sad about it. I feel blessed to only live a few miles from our parents and siblings.

  • george

    alternative fuels – lmao

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