$138 a barrel. Where will it end? $150? Higher?
Much of the goods in America goes by truck. Diesel is now approaching $5 a gallon in most states. This means higher prices for everything that goes by truck, and really, what doesn’t, for at least part of the way?
Those who bought less-expensive homes further from metro areas to save money may well be spending hundreds more per month for gas.
Are the prices a bubble? Might be, but bubbles can go on a long time.