According to recent news reports, some analysts are predicting very high gas prices will continue in the near future. Some energy research companies are pointing to $5 a gallon by July 4 – one of the most popular travel times of the year.
If gas does indeed reach $5 by then, it may be a short-term indicator of how gas prices could continue rising over time. Some researchers claim gas could reach a whopping $12 per gallon between 2010 – 2015.
As of this writing, I am driving a 2006 Honda Civic EX. The civic has always been great on gas mileage, a feature that got even better with the new design introduced in the 2006 model. On a good day of freeway driving, my car gets close to 40 miles per gallon. Even in town I can pull over 30 mpg just puttering around on errands and such.
Despite this, I really have considered getting into a better driving arrangement to get even more out of my gas expenses. Right now, my neighborhood gas station charges $4.57 a gallon for 87 octane. At this rate, it runs me approximately $50 to fill my tank. When gas escalates to $10 or $12 per gallon, I’ll be looking at over $100 to fill the same gas tank.
The future does not look good for gasoline, and we should all be thinking about ways to save more money, to cut back on driving, and to get more out of every penny we spend on gasoline!