catfish5 saidAmericans are driving less, switching to more fuel efficient vehicles, carpooling, and making fewer trips.
Until the prices drop low enough. Then all the talk about solar, nuclear, shale, and wind will stop, we will start driving everywhere, stop using public transportation, and the Ford F150 will return to being the number one selling vehicle in America. We forget very quickly.
I doubt that prices will retreat below $3.30/gal. on the average.
Prices will normalize around the $3.30-$3.50 range until the next big crisis in the middle east, or speculators have detected that we are comfortable with the "new normal" price, and begin another round of buying to fleece
the suckers left holding the bag when the bubble bursts again.