According to a CNN/Opinion Research Corporation poll from late April (partially available at pollingreport.com), 60% of respondents stated that the increase in gas prices have caused some financial hardship in their lives. Of particular note here, is the fact that this is down 12% from the 72% who responded in the affirmative to this question in March. This doesn't make much sense to me, unless if the coverage in March focused on the issue more, and therefore informed consumers to be worried little folks during that time... Of course, this is entails taking a rather negative view of the ability of the populace to fully weigh the realities of higher priced oil to their own lives. Or, maybe folks were comforted knowing the $1,200 was in the mail.
Of more interest to me is the fact that 78% of respondents think it is likely that they will pay $5 a gallon for gas at some point this year. Even more astonishing is that 44% think it is very likely to occur. I have to admit that this view is even more pessimistic than I am on energy prices, as I would peg it to top around $4.40 a gallon in mid to late summer. Additionally, five out of six respondents think oil companies are making too much profit, while 13% feel it is a reasonable profit. This poll also shows us that 3% of the respondents have some vested interest in oil, or so I would venture, given that this is the percentage that claimed oil companies were not making enough of a profit!!! For real?
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