Gas prices hurting the economy?

Remember when gas was $1/gallon? I remember not too long ago when gas at the Diamond Shamrock at Prince & Romero was 95 cents per gallon. When we moved here four years ago, I remember thinking $1.37 a gallon was high. Now gas prices are in the $2.30/gallon range. This article suggests that people are cutting back on their other spending because gas prices are taking up more and more of their household budget.