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March 12, 2012

So Maybe $4/Gallon Gasoline Isn't That Big A Deal After All?

Gas prices are rising. This we know, and it's something we can do very little about.

The increased cost of accessing crude oil, and political instability in oil-controlling nations putting a squeeze on supply, means the consumer has to foot the bill.

But as gas prices climb towards the $4 per gallon mark, will it really make much difference? The National Automobile Dealers Association (NADA) believes the impact may be minimal, and unlikely to have much effect on used car prices, either.

Back in 2008, when gas prices rocketed up from the average of $2.50 a gallon, it caused widespread panic in the industry and consumers were tripping over themselves to get into the latest gas-sipping models, while guzzlers took a tumble.

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