When the price of gas in much of the country is already $3.50+ what individual in his position should show surprise that they will hit $4.
QUOTE]
http://www.fuelgaugereport.com/
The average price of gas is actually $3.164/gallon today based off of 86,000 gas stations surveyed by AAA. I am sure you could go to a boat dock and pay $5/gallon so there are obviously going to be people paying more than that somewhere in the U.S.
Depends on the mix you are talking about. $3.16 would be regular.
I just paid $3.44 last night. If you're engine requires premium you are closer to $3.50.
The man is from an oil background. His father is supposed to be "an old China hand." If he's got any basic knowledge of his industry and the forces in the world that shape demand for its products he shouldn't be taken aback by the idea of $4.00 gas.
The only thing that's going to stop it is if the slowdown turns into a deep or prolonged recession that cuts demand in the short run. But its coming sooner or later due to demand from China, India, Brazil, Russia and other booming developing countries and because the dollar is tanking.
We are too far yet from a major impact from alternative fuels or increased efficiency.