Gasoline is Closing 4USD

Just putting this here so I can check what's the situation same time next year.

"All this has led to a vast transfer of wealth from American drivers to domestic and foreign oil producers. Every one-cent increase in gasoline prices means Americans pay $1.42 billion more a year for gas, according to Stephen P. Brown, an economist at the Federal Reserve Bank of Dallas. Nearly two-thirds of that goes to foreign producers."

"In the first four months of the year, Americans spent $158 billion on gasoline. In 2003, just as oil prices started to take off, they spent $88 billion over the same four-month period, according to Michael McNamara, vice president for MasterCard’s Spending Pulse, an indicator of weekly gasoline sales."

....

“There are too many politicians’ hands in our pockets, and too many crooks in the oil companies,” said Ms. Sebastian, an Army veteran who served in the Persian Gulf. “I’m all for helping other countries, but we need to help our people here in the U.S. first.”

The entire article

In Finland gasoline at the moment is about 8.7USD/gallon at today's exchange rate. No decline in usage of cars.