MSN’s article titled “Gas prices could peak at $4 this summer” certainly caught my attention. $4…some people go to Target for the generic prescriptions for $4 while others spend that much on a quick meal at Chick-fil-A…but $4 a gallon for gas? This is ridiculous.
Now, hear me out… with the new federal minimum wage rate of $5.85 per hour that was effective July 2007 and $6.55 per hour effective this July…a person working 40 hrs a week will receive $262 pre-tax dollars. If that person has a car with the average gas consumption of 24.7 mpg [dailyfueleconomytip.com], and average 231 miles per week per vehicle [epa.gov], how on earth are they going to afford $4 per gallon in gas? Clearly, this is an issue.
read the full article here: Gas prices could peak at $4 this summer – Oil & energy- msnbc.com