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Energy

Another Day, Another Gas Price Increase

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By Douglas A. McIntyre Published
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The price of a regular gallon of gas moved higher again yesterday, according to the AAA Fuel Gauge reports. The data is based on a poll every day up to 100,000 stations

Regular reached $3.805, up from $3.801 a day ago, $3.764 a week ago, and $3.509 a month ago. The price is currently above $4 in five states which include California and Illinois–two of the largest states by population. The price is just a fraction below $4 in New York.

A recent Gallup poll showed most Americans would severely cut consumer spending if gas rose above $5.30, but that figure was much lower for a number of people.

The report included this observation

The responses varied widely, with 14% to 17% of Americans saying a price of less than $4 per gallon would be high enough to cause them to change their lifestyle or cut back on spending elsewhere. Another 28% each say a price point in the $4 range would cause these changes.

For many people, the recession-like impact of gas prices is already here.

 

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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