Gasoline and the Price of Everything

The average price of gasoline reached just over $3.50 per gallon on Monday – a number that made the financial markets shudder. While gas prices vary widely from state to state, the upward trend,  driven in part by the nearly two weeks of civil unrest in Libya, shows no sign of retreat. Daniel Singer, President of Robison Oil in Westchester New York knows that there’s more to the story for the average consumer than the pump price. In fact, the price of gas determines the price of… just about everything. It affects the cost of things that we make  out  of oil (plastic, fiberglass, petroleum based products), and it also affects the cost of shipping nearly every product to our doorsteps. Christopher Steiner, senior writer at Forbes Magazine and the author of “$20 per Gallon: How the Inevitable Rise in the Price of Gasoline Will Change Our Lives for the Better.” He has looked at how oil prices will determine the future of American consumer and social trends.