[templar]

My point is that steel and other commodity prices do the same. ... People have irrational responses to gas prices.

When was the last time you bought raw steel by the ton and how much did you pay? When was the last time you bought gasloine (or diesel, fuel oil, etc) by the gallon and how much did you pay? See how differently, noticeably, and personally, the price increases in gasoline affect every person and how different the price of steel is in that respect?

[Ditto]

Follow the argument. The other poster was saying that even though the price rise in gas is small compared to other ways we spend our money, the price rise bounces across the economy and causes other prices to rise. I made the point that the same is true for many other things.

On a inflation adjusted basis, the price of gas is lower today than when I started buying it 40 years ago. I get a kick out of all the bitching and moaning by people walking around with bottle of designer water in their hand.