Unfortunately, whatever the price is, I will have to pay. We live in a area that requires driving or a backpack, sled and dogs! I will curb my trips to town though if it gets much higher.
The price at which it becomes less convenient for me to buy a bus pass, walk to the bus stop and get to work.
I think you raise a good question here but my perspective is from a different angle. As the price of gasoline goes up, most folks will buy less of it at one time to aid their cash flow. In the process they will do things to try to reduce their consumption so they do not have to go back as often. Most of us have to buy gasoline if for nothing else than to have a way to work and back. That said, the oil companies capitalize on that need as much as possible and conveniently take any plausible excuse to raise the price at the pump. Oh, it's going up today because we have to switch to a summer mix, that costs money or its going up tomorrow because we have to switch to a winter mix, that costs money. Oh its going up now because there is fighting in Libya, Never mind that Libya only produces about 1% of the world's crude oil. As I say, any excuse. But, on the other hand, they are quite worried about their price point in terms of where they can get maximum sales and maximum gouge. Once they surpass that point, volume declines and even though their recovery is higher per gallon they rapidly get into the old law of diminishing returns. People then really start looking for alternatives...maybe buying that hayburner that gets 40 MPH and seats two. So I think you will see the oil companies begin to get edgy. Most of them could weather significant shifts in crude prices and still make excellent profits but they choose not to do that. Exxon-Mobil is a perfect example with their bottom line profits hitting in the hundreds of billions of dollars range. This is absolutely appailling and very representative of what you can do when you are willing to gouge the public every single change you get. On the long haul they have to preserve consumer confidence and guard their price point lest they kill the golden goose too quickly. And, one day, they will pay, count on it. WB
When the cost of the fuel greatly exceeded the time/inconvenience costs associated with using other means of transportation (public transportation, bike, walking).
If I say, $10.00 a gallon......it will rise to that.
If I say$3.50 a liter........it will rise to that.
In this modern society, fuel is regarded as a necessity. People will pay. They just will. What will change is what we, as consumers view as neccessary.
Are you familiar with the term, " ankle express"?
We, as consumers should lessen our need and dependance............FIRST.
I commute almost a 100 miles per day. I have no fuel to waste.
Carpe scrotum, dude! No buses or taxis out in my neck of the woods. It's drive or be unemployed.
by Gary Anderson 7 years ago
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