An Esso station near Hampton Court Palace, where King Henry VIII wooed five of his six wives, had just received a delivery of unleaded gas. With the fuel gauge in his Mazda Miata signaling empty, Godfrey raced to join the fast-growing line of cars. His ire was reserved for the government. But it makes the government realize it can't ride roughshod over us. But in America, a country not known for its forbearance, motorists were more resigned than wrathful.
Gas prices are still far cheaper than in Europe, but they've been rising fast.
Just pay for the gas and shut up. Like Mooney, Americans everywhere may be unhappy about steadily climbing gas prices. But they're also right not to panic. Crude prices are still relatively cheap in inflation-adjusted terms, and oil accounts for a far smaller portion of the U.S. economy today than during the oil crises of yore. More vigilant monetary policies also make it less likely that a jump in fuel prices will translate into an inflationary spiral.