$7/gal gasoline

[samclem]

The major impacts would be macro, not micro.

Even at $7/gal, I don't think I'd change much in my fuel consumption habits. We don't drive a lot, so there's no major $$$ to be saved there. I'd look to consolidate trips more than I do now.

I'd expect that fuel prices this high would significantly increase the cost of everything we buy. Also, these fuel prices would put a big hurt on the economy, so equity returns (and our long-term income) would also be impacted adversely.
With fewer dollars coming in and more dollars going out for necessities, we'd need to take a harder look at the household budget, discretionary spending overall, and how much part-time work I do. Overall, I think there would be impacts far beyond mitigation with a smaller car or higher tire pressures.

 

[FinanceDude]

If gas hits $7 a gallon, I'll carpool with DW. It would take some effort, but we've already decided on it.

It's not an affordability issue, more of a principle issue. Why not do it now? Because it's not $7 a gallon yet.........

 

[UncleHoney]

Hummmm.......... At $7 a gallon I might just be tempted to park my truck out on the street, leave the windows down and the keys in it.

Actually it's not too bad at $4/gal but I hate paying for some oil company executive's early retirement so I keep the usage to a minimum. I had to fill up last Saturday, the first I bought gas since May 6. Got 53 days on 20 gallons.

Going to see if I can stretch this new tankfull to 60 days.

So far YTD gas purchases are $355 and I have a full tank and DW has 1/2 tank left.

 

[Kathryn48]

To look for the silver lining, this could be a good thing. Americans will stop being so wasteful and, theoretically, maybe certain aspects of life could be better. We'd all have to learn how to tighten the belt.

Ok, well, I'm just lookin' for the good in this whole deal.

As for me, though, I would start walking places if everything here wasn't so spread out and walking any place in 110 degree heat is not an option. I walked home from a hospital a month or so ago, which was like four miles in 100 degree heat. I had to stop off several times and look for shade. Thank God two miles into it there was a grocery store so I could get some water, which was hot by the time I got home.

BTW, UncleHoney, you must share your secret for stretching gas out so much!

I don't know what else I could do to preserve on things, aside from just not going anywhere.

 

[ProspectiveBum]

Many Europeans have long paid more than $7 per gallon for gas. The last time I was there, things didn't seem to have ground to a halt. People there generally did drive more fuel-efficient cars (and motorcycles and scooters), and weren't shy about putting 4 or 5 people into a very small car. Everyone adapts, and life goes on. I think we're just in the early, painful phase of the adaptation.

I don't see much changing for us personally if gas goes to $7. I only drive my SUV 8k miles a year, so even though it gets lousy mileage, fuel is not a huge expense. Our next new car purchase, in 4 years or so, would probably be an efficient 4-door that's still fun to drive (e.g. a Honda Fit).

I love cars, so the best part about this "crisis" is that we'll finally start getting some of the sporty European hatchbacks here that the manufacturers could never make a business case for before. For example, Ford is going to bring their Euro Focus to the States (it's infinitely cooler and sportier than the current Focus sold here). VW has just started selling their turbo-diesel Jettas, which will also be available with sport suspension packages, and get mid-40s gas mileage along with big torque numbers. Good stuff!

 

[Ronstar]

Since I started biking to work (50 mile round trip) once a week and taking off Friday's I've cut back about 30 gallons of gas per month. I'm going to start biking twice a week next week.

If $7 a gallon happens, I better bike every day.

 

[CitricAcid]

One round trip at 50 miles and taking off Fridays = 100 miles a week = about 400 miles a month. 30 Gallons = 400 miles? Nice way to save a good $1200 or so a year though

 

[UncleHoney]

BTW, UncleHoney, you must share your secret for stretching gas out so much!

The best method I've found so far is stay out of the drivers seat as much as possible. Even when I was working I could squeeze about 28-34 days out of a tank, only 9 miles round trip.

I do a lot of trip planning trying to conserve as much as I can. Hit the post office, then the dentist office, then the grocery store.... I keep a running list of things that I need from Lowes and maybe go once a week.

No weeds in the yard and the grass gets mowed about twice a week so that keeps me off the streets too.

 

[Khan]

The best method I've found so far is stay out of the drivers seat as much as possible. Even when I was working I could squeeze about 28-34 days out of a tank, only 9 miles round trip.

I do a lot of trip planning trying to conserve as much as I can. Hit the post office, then the dentist office, then the grocery store.... I keep a running list of things that I need from Lowes and maybe go once a week.

No weeds in the yard and the grass gets mowed about twice a week so that keeps me off the streets too.

Since Jan 1:
Gasoline:
23.55 gallons
$82.24
Miles:
557

 

[Ronstar]

One round trip at 50 miles and taking off Fridays = 100 miles a week = about 400 miles a month. 30 Gallons = 400 miles? Nice way to save a good $1200 or so a year though

Since months are a little longer than 4 weeks, I think I'm saving about 9 trips or 450 miles per month, plus I'm a little more efficient in my other driving trips, plus my Jeep only gets 16 MPG. So 30 gals at 16 mpg =480 miles which is probably close

 

[USK Coastie]

Right now its a 100 mile RT to visit the MIL each week and usually 28 mile tr to the nearest town once a week. When Mil passes we'll probably drop to one 100 mile RT to the big city for a COSTCO run once per month and a weekly run to town.

I've been retired for a year today and mileage on the vehicles dropped from 20K per on the car and 10k per year on the truck to 7k on the car and 1.5k on the truck. Of course I've doubled the run time on the tractor doing work around the place working on the honey do list