Like you, I am concerned about rising gas prices. I know it’s a strange thing to watch gas prices rise so dramatically, but this problem is a long time coming. We are currently in the middle of an economic conundrum that is about much more than crude oil. So, how long will gas prices be high? Good question.
Honestly, no one has the answer – not even the top economists assessing the situation. But we should step back and take a look at the very question itself. What do we mean by expensive gas anyway? Isn’t this just a relative term? Gas is expensive compared to what? And expensive for whom?
Yes, we all remember the glory days of one dollar gas. Even two dollars per gallon sounds pretty good right now. And driving out of town used to be such a treat. Now it’s an investment and carpooling and other approaches are becoming a necessity for making it in this environment.
The chances of returning to below three dollars per gallon for gas are very, very low. The current prices in the United States are actually much more in line with what you would find in Europe or many other parts of the developed world. If anything, our prices are becoming more realistic, not more ridiculous. For the longest time, gasoline was actually cheaper than a gallon of milk. Imagine that: milk is a renewable resource that we can make over and over again. Fossil fuels are non-renewable and thus extremely limited.
The best solution to today’s gas prices is to do what humans do best – adapt, change, and thrive in a new environment. If you expect to create change around this problem, you should not expect the economic law of supply and demand to bend to your desires. This is a very real situation, and we have been spoiled for far too long. I would suggest finding new ways to make it in this economy. Drive less, invest in an economical car, and save your money!
High gas is here to stay, folks.