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Gas Prices Hit New Record

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The price of gas headed higher yet again today -- no surprise there -- but now analysts are wondering if $4 a gallon gas will be the national average before long.

The AP reports today that the price of a gallon of unleaded passed $3.51 today, setting a new record, while diesel prices rose to a new record of $4.20 a gallon.

"I wouldn't rule out the possibility that we could get to $4," analyst Antoine Halff told the news service.

The current spiral of prices is, er, fueled by high demand and the fall in the value of the dollar. It's a rough lesson for consumers as prices for everything are rising, especially food, because of transportation costs.

Consumers may be responding in a grass-roots way, however. Cars.com's latest survey of shoppers reports that $4-a-gallon gas for an extended period of time would be enough for 85 percent of consumers surveyed to buy a more fuel-efficient car. Already, the Cars.com survey found, 80 percent of drivers are making sure they do everything to squeeze more miles from each gallon of gas, like properly inflating their vehicle's tires.

What do shoppers think qualifies as a "fuel-efficient" vehicle? Some 73 percent of those polled by the Cars.com survey said 30 miles per gallon would be a good starting point -- and 60 percent said they'd pay $2000 extra for a 40-mpg vehicle. Twenty-one percent said they wouldn't pay any more, though.

It's easy to see the effect of high gas prices on the wallet. But TheCarConnection wants to know -- what are you doing to save money and boost your fuel economy? Tell us in a comment below and let us know if $4 a gallon gas would get you to trade in your guzzler for a sipper.
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Comments (9)
  1. We have a 2.3l wagon, a 2.0l converitble, and 750cc motorcycle. All with manual transmissions, and all use premium fuel. That's a tad less than 5.1l for the entire household, though.

    The motorcycle with hardbags hauling my work laptop is the long distance daily commuter. The wagon hauls the rest of the family to work, school, and daycare. So, getting an avgerage of 41mpg for the bike, 25mpg for the convertible that is rarely used, and 21mpg for the wagon that is used daily, $4/gal for premium doesn't bother us much.

    Funny thing, those Hemis and F350s.
     
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  2. Given that in Oz we are paying the best part of US$6 per gallon for diesel and about US$5.20 per gallon for unleaded (in Europe its far worse) and it is yet to change our habits - although we drive a 2.5L TDi VW (which gets almost 30mpg) and a 2.0L Forester which gets about 28mpg - however, both cars do about 30 miles per day. So we are starting to consider alternatives like bicycles and scooters......mainly because the investment required for a new fuel sipper these days combined with ownership costs and depreciation is starting to get a bit alarming as well
     
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  3. You're not the first to mention the scooter. The other day my accountant asked if there were any extremely fuel efficient cars on the horizon. After I told them what they were and cost he said he was considering a scooter for the commute this summer.
     
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  4. Why do I feel like I am in the movie Groundhog Day??? I SEE THE SAME HEADLINE EVERY DAY! I was talking to a coworker in the UK today...sterling to dollars and litres to gallons....$9 a gallon. We still have a bargain. Wake up!
     
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  5. "Why do I feel like I am in the movie Groundhog Day??? I SEE THE SAME HEADLINE EVERY DAY! "

    That's because gas prices do make a modest new record every day, and thi smay continue well into May and early June.

    "I was talking to a coworker in the UK today…sterling to dollars and litres to gallons….$9 a gallon. We still have a bargain. Wake up!"

    It would be a much better bargain if we could buy the efficient, modern Diesels 78% of Europe is buying. Even Diesel Hybrids, 70 MpG in a compact 4-5 seater Peugueot!
     
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  6. Even European petrol vehicles get better mileage than the US counterparts. They accept putting smaller engines in and getting 0-60 times in the 10-18 second range but automakers here are adverse to them. I'd personally prefer a car get 45 mpg and do 0-60 in 15 seconds than get 30 mpg and do 0-60 in 8.
     
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  7. Don't know if the link will work but this "article" on the onion is spot on.
    http://www.theonion.com/content/node/38644
     
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  8. Thank you Tom, that Onion article gave me a good laugh.

    I used to live in cities where I could commute by bike. Now, I live in Detroit where many drivers aim at anything on two wheels. They take the title "Motor City" very seriously.
     
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  9. I have two SUVs - a 98 Trooper which I love dearley and a 2003 Kia Sorento - a quality vehicle, but dismal mileage. I also have a Harley Road King which will be used non-stop this summer until the Hyundai Elantra Touring or Kia Soul arrive. I'll probably buy one of those two and trade in the Sorento. It's either one of those, or I step up to the plate early and opt for a Mazda3 5-door.

    But I HAVE seen the error of my ways. And if keeps getting worse, imagine the ramifications this is going to have on the plants that build manufacturers' pickups and SUVs? And the economy? Patrick Swayze said it best in the movie Road House: "You ain't seen bad yet."
     
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