No. of Recommendations: 4
Average price in Phoenix is 4.70/gal. I just googled it. Need to fill up our Jeep soon, so not going to be pleasant. Usually drive our EV, so it's only when we fill up the Jeep that I notice.
I would suspect prices will continue to rise as oil is restricted. At some point, we should start seeing increased trades/purchases favoring smaller vehicles and EVs. That's what happened around -IIRC- 2008 when you couldn't test drive a Prius because they didn't stay on the lots long enough (and their used lots were packed with super-trucks). Not quite sure when that point will be (5.50/gal? 6.00/gal?). But it will happen, unless Iran lets it go (which they have no reason to).
Plus the inflation fueled (no pun intended) by increased trucking/transportation costs for goods in stores.
The next POTUS is going to have quite a mess to clean up, if it even can be cleaned up. When does this tip into recession or depression?
On a side note, got back from Europe. Europeans might want bigger vehicles (as you posted elsewhere), but that's not what I saw the roads. Mostly smaller sedans, Minis, lots of Teslas and other EVs (including ID3, which we can't get here, and ID4). The only vans I saw were business-related (tour vans, delivery vans, and the like). I suspect it is largely from the necessity due to petrol prices and much smaller roads. They can't afford to feed a big car or truck, and a lot of roads they won't fit at all.