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$3 for Gallon a Gas: Economic Recovery Unaffected

We mentioned last week that the price for a gallon of gas is getting closer to the $3 mark, the most it has been since the summer of 2008. There are those who warn that this could have a huge effect on economic recovery. But many experts believe that drivers will just put up with it and pay the price, what else can the do.

Although $3 for a gallon of gas sounds expensive, it is not as much as $4.11 a gallon some time back — also consider that UK drivers pay over $8 for a gallon of petrol as they call it.

One analyst expects that $3 for a gallon of gas will not be for long; by the summer prices will fall again. Mark Zandi from Moody’s Economy.com explains that drivers will pay the $3 price for now, but if it does not fall by the summer, then there could be a huge problem.

If it goes past that stage, then that is when there will be economic recovery concerns. The more gas that you put in your tank, the more you have to take money from another area in your budget. That is when the problems begin and spending stalls.

For more on this visit CNN Money

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Written by Peter Chubb

Peter has been writing on Product-Reviews since 2007 and in that time much has changed for him, like his hair having more grey than brown now. He loves gadgets and cars, and gets excited when big events come up, such as CES and the big auto shows.

Contact Peter Chubb: peter@product-reviews.net

He started out working in a factory and dreamed of the day when he could become his own boss; That happened back in 2002 and he has never looked back since. Things have changed so much on the Internet in that time, but he has adapted well.

Contact Peter Chubb: peter@product-reviews.net

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