Higher gas prices? No worries, say Jad Mouawad and Nick Bunkley in Wednesday’s New York Times off-lead story, “Rising Gas Cost Finds The Nation Better Prepared – Lessons Learned In ‘08 – Less Dependence on Oil – Spike Unlikely to Derail Recovery.” Yet while $3.57 a gallon for gas isn’t worrisome for the economy in 2011, $2.55 a gallon was very much so in 2005, during the Bush years.

The increase in energy prices is beginning to resemble the rise in 2008. But this time, the American economy may be better prepared for higher fuel costs.

Gasoline prices have risen by nearly a third in the last year, and oil costs more than $100 a barrel for the first time in more than two years, driven by fears of extended Middle East supply disruptions and increased demand from an improving global economy.

While the latest surge in energy prices is likely to cause some pain and slow the recovery from the recession, economists say the spike is unlikely to derail the rebound unless prices rise a lot further.