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.
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