Rising Gas Prices

The scary news is that just about everything we need to survive will go up in price as a result of high gas prices. This includes our food supply, which depends on enormous amounts of diesel to fuel tractors, as well as fuel to haul our bread, canned goods and fruit all over the country.

Travel will be more expensive, and the prices of all the goods and services we use daily will likely go up as well.

The good news is that we can take action to prepare for the possibility of rising gas prices in the years to come. And even if the experts are wrong and we don’t hit $5 per gallon gas in 2012, we’ll still be better prepared for emergencies, and we’ll know how to save money on gas.


The Obama administration is considering deploying the USA's 727 million-barrel strategic oil reserves to ease prices, William Daley, White House chief of staff, told NBC's Meet the Press on Sunday.

The economic recovery is vulnerable to rising gas prices, says Ryan Sweet, senior economist at Moody's Analytics. "

"Gas prices are rising, and the stock market has stumbled," he says. "We could potentially see consumers take a step back and slow spending."