USA Today claims “Oil has yet to hit problematic height” in a headline today.
“At some point, high oil prices have to matter,” says David Briggs, head of global equity trading at Federated Investors. “When Joe Six Pack has to start paying $50 to fill up his tank, you have to think they will stop buying Frappuccinos and bottled water.”
It cost me $44 to fill my tank before work this morning. It would have been $48 if my tank was completely tapped. I think I’ll stick with the bottled water and espresso drinks and look to drive less.