Around here - realistically what is the ceiling for gas prices, is it unlimited?
Obviously gas prices keep going up and up because of the war in Iran, but realistically do they have a ceiling or do they just keep climbing like everything else? Right now where I live, gas is 5.29 a gallon, we are forecasted to see gas between 6 and 7 dollars a gallon by this summer. Does it go past 7 dollars a gallon? Could Americans see the national average as high as $10.00 a gallon?
And if it just keeps going up, what does that do to the economy as a whole? Would this cause the full collapse of industry / transportation etc? Trying to just understand maybe what we are looking at - is this something that would completely cause the destruction of society if say gas prices went to $15 to $20 a gallon or higher....