Oh, the pain at the pumps. It continues to get worse. Is there no end in sight? Apparently not and consumers think it will just keep getting worse.
Americans are already paying through the nose for gasoline, and they think it’s only going to get worse.
A CNN/Opinion Research Corp. poll found that 94% of respondents expect they will have to pay $4 a gallon sometime this year – and 78% said they figure it will hit $5.
The national average for gasoline was $3.61 on Monday.
Consumers’ fear they will have to pay more has intensified. A year ago, 79% thought gas would cost $4 gas by the end of 2007 and only 28% feared $5 gas.
We know rising fuel prices have caused financial hardship for many Americans. They are cutting back wherever they can to amke ends meet and that includes driving. The blame for rising gas prices fall squarely on the shoulders of Big Oil, Americans say:
Where do consumers place the blame? With oil companies like ExxonMobil (XOM, Fortune 500) and Chevron (CVX, Fortune 500) taking home record income in the past year, 83% said oil companies are making too much profit.
What’s the going price for gas in your neighborhood?