I fear it because it will chip away at the consumer. And it will hurt, especially with unemployment so high, and no prospects of the job market improving.
I would love to see a divergence between the movement of Gas/Crude and the Markets. I want to see the markets go up, and gas/crude decline... I just do not know if that will happen.
In any event, the price of gas has me worried... so much so I started to add market protection to the down side via SPY puts.