>At the beginning of the year, when a retail gallon of gasoline averaged $3.10 or so, I bet a colleague from work that at no point would the price go above $4.00, according to gasbuddy.com.
Today, I lost that bet. Fortunately, the standard bet at our work is a quarter and your pride.
I keep up with the energy blogs and news, and I’m aware of the limitations in supply that we have coming over the next decade or so, including the threat that world oil supply may be peaking or may have just passed the peak, but I never thought it would go up 30% so quickly.
Live and learn. For the rest of the year, what do you think a suitable number would be for “double or nothing”? $4.50? $4.75, $5.00? Let me know.
UPDATE: We agreed on double or nothing at $4.50. It’s a bit risky for me but I think we’re looking at harder economic times, more people getting smaller cars, and public transit ridership is way up. I think $4.00 may be most people’s tipping point for changing behavior. We’ll see.