The question, the economists agreed, is what happens if prices continue to rise and remain high.
Price for a gallon of unleaded gas are $4 to more than service stations across the country, revisit the dark territory of three years ago, when the average price for a gallon of regular gas reaches a peak of $ 17 juillet2008 4.11, according to the Oil Price Information Service.
The investigation of approximately 100,000 stations showed gas prices were now with an average of $3.77 per gallon across the country. The average is already more than $4 in California, Hawaii and Alaska, and analysts said oil information service drivers paid more than $4 in some stations in at least three other States - Illinois, Connecticut and New York.
Energy Information Administration the Government Monday put the slightly higher average price for a gallon of regular gasoline at $3.79, up 10.7 cents the previous week and almost a dollar higher at the same time last year.
Even with the rise in prices, economists said recent data wide had continued to be positive.
For example, the labour market, continued to strengthen, with the economy by adding 216,000 jobs in March. And a survey of 25 retailers tracked by Thomson Reuters has posted an increase of 1.7% in the same month, contrary to the forecasts of analysts.
But economists are still trying to determine the economic impact in the long term.
"Once we cross the threshold of $4, pain will become more palpable, and it appears most notably in the reduction of consumption expenditure future,", said Bernard Baumohl, Chief global economist for the Economic Outlook Group."." He predicted that "spending on discretionary goods will decrease as the price of gasoline more poignant canned."
He also noted that sales figures by the Government to detail for March, a broader measure that also takes into account more sectors and categories, will be published on Wednesday. "I will not at all surprised that gasoline purchases not begin to suffer," he said.
John Gamal, the Director of research of the essence for MasterCard, noted that good jobs report last month. "It has been a tug of war", he said, between the market of work improved and any drag higher gasoline prices.
He has said that a report of MasterCard Advisors SpendingPulse showed that consumption of gasoline fell 3.6% the week ending 1 April each year, the fifth consecutive decline.
"Even with the best labour market, consumers reduce their conduct," said Mr. Gamal. "It is something that we look."
The decline may also be caused by the Americans for more fuel-efficient cars switch fuel since 2008.
"As bad as it is to see prices at the pump $4," the economy is in better shape now than three years ago, said James w. Paulsen, the Chief Wells Capital Management investment strategist.
"The recent price of energy may well slow the pace of economic recovery in the next few quarters" he wrote in a note to research Monday.?"However, the different position and mandate of the US labor market could be the reason why the contemporary energy crisis may be more irritating consumers at the pump than a risk of recession of end of cycle."
Economists also say the industries that depend on travel revenue, such as leisure and hotel companies, could feel the pinch over the weekend of Memorial Day and during the summer.
The rise in the price of petrol began to gain steam after political unrest grew in the Middle East in February. Prices of raw materials soared in heightened concerns about supply disruptions, especially from the Libya, even if the other offered producers compensate for any shortfall. Crude prices reached their highest level for more than two years, last Thursday, closing more than $110.
"Money was cast in all the products at an incredible rate for the past four months," said Tom Kloza, Chief with the Service of Information Oil Price oil analyst.
"I think we have reached the tipping point", he said the price of gasoline. "The sweet spot this year for economic growth without damaging the application was probably to $ 3.25 to $ 3.75."
The soaring prices of raw materials made of so that Federal Reserve officials have commented on price of gasoline. Monday, in fact, Janet l. Yellen, vice President of the Board of Governors of the Fed, said that rising energy and food prices have been created "significant difficulties" for many people and that the Fed was looking at the effect on inflation.
Economists said they expected that the Americans would make less non-essential travel by car, especially in or for the summer holidays, memorial day or consolidate more trips to work with the races.
"People just have the elasticity in their budgets," said Robert Sinclair Jr., a spokesman for AAA New York.
Yet, many Americans is as Jon Wood, a 49-year engineer who, after the increase in gas prices in 2008, reluctantly bought a Nissan Sentra for its 80 miles round trip commute to his job at Greenwich, Connecticut
Today, with the price of a gallon of gas at $4.19 at the station where he works, he is happy, that it did.
"I drive something very economic," Mr. Wood said of his car, a model of 1993 which gives 30 miles per gallon on the highway. "Normally, it would not be my first choice."
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