I work in an industry that services all types of businesses. We have been weathering the storm fairly well except for the last month, particularly the past two weeks. This is the price range in which, I believe, it all starts to break down. I don’t think we (the country) can withstand these prices very long, $5 will break us.
I too have business interests that serve other businesses -we serve businesses who serve the consumer. The gas price is incredibly important in everything we do and in everything the consumer does or does not do, making it incredibly important to our direct customer businesses.
Five will kill the economy. I think the tipping point is really 3 to 3.50. I know conventional wisdom is that it is four. My point is, folks start to change their lives at 3 or 3.50 and by the time folks realize we are in heep big trouble, the price is usually 4.
I don’t think 5 could last because it is somewhat self correcting. Above 4, the demand would dry up and keep it from getting to 5 IMO. But anything above 3 is awful especially when we have the resources for it to be under 2.