When it comes to gas prices, it pays to have a contingency. My personal contingency plan was ditching a reasonably fuel-efficient crossover vehicle and winnowing down our garage to one vehicle, a paid-for Toyota Prius. When we need to drive, we get 38 mpg guaranteed, and sometimes much higher.
Still, a single fill-up in the Toyota costs more than three times as much as when we took delivery. It doesn't hit me that hard personally, but all those folks who bought V-8-powered SUVs two years ago at fire-sale prices--like my extended family--are still putting out the fires in their bank accounts. Likewise, if you bought a smart car when it launched, you're looking pretty smart at $4.50 a gallon.
But what if things get a lot worse--and all of a sudden, we're paying $10 a gallon? It wouldn't take much. Names like Katrina, Ahmedinejad, and bin Laden come to mind, but something as pedestrian as a couple of broken-down oil refineries could send prices higher.
So if gas costs $10 a gallon--making a fill-up in a Chevrolet Tahoe run almost $250 a pop--what's your contingency plan? Which car, bike, scooter, or jogging shoes will take the place of your current ride? Tell us in a comment below.