Energy

The more gasoline rises above $5, the greater risk there is of recession

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Gasoline is nearing an average $5 per gallon across the U.S., but while consumers are feeling the pain, prices are not yet at a level that would tip the economy into a recession, economists said.

Where that breaking point price lies is unclear. Some suggest it would probably not be just gasoline alone that would send the economy into a tailspin. That said, economists say a recession is indeed possible if fuel prices rise to an even higher level and stay there for an extended period of time.

According to AAA, the national average for a gallon of unleaded gasoline was $4.97 Thursday, up about 65 cents in just a month.

Compounding the pinch at the pump is the fact that other costs are rising…



Source cnbc.com

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