Gas Prices Time to Carpool!!
Just what students need right before summertime, as they just summer jobs and getting new clothes that money has to go to the gas tank: gas prices headed back toward $3 per gallon.
The average price of a gallon of regular gasoline hit $2.70 on Thursday, according to the auto club AAA. That's up 67 percent from this time last year, and it's the highest price since October 2008 -- a fact not lost on drivers.
“I have to start to find quicker ways to get to different places and asking for gas money if I have to pick you up.
Seble dad, a cabdriver in Nashville, estimated that he's spending $200 more a month on gas than he's used to.
"It's affecting everyone's budget," he said, "especially in the summer. In my business, I depend on people's pocket money. If they don't have any . . . than I don’t eat"
Why are prices rising even as demand for gasoline is falling? Current demand is well below levels seen in recent years. Oil refiners are actually trimming production.
The crudest explanation is that the price of gas is following the price of oil upward. Oil, like all commodities, has been rising, pushed higher by increased demand and a weak U.S. dollar. Americans already spend $1 billion per day on gas.
Rising gas prices reduce other consumer spending and can affect big-ticket purchases when prices hit certain points. For instance, when gas broke through $3 per gallon in February 200, Ford forecasters predicted that consumers would start buying smaller, fuel-sipping cars when gas hit $3.50 per gallon. As the monthly sales reports came out through 2008 and 2009, that proved true. Truck sales sagged and buyers moved toward compacts.
Here is some smart choices if the gas prices and putting an end to your social life.
- Look for fuel-ineffient cars- the more mileage for your dollar the better
- Don’t go too far out the way(For example if you like going to the movies it’s too far go to the red box or on demand)
- Write letters to congressman, oils companies, etc to demand lower prices.
- Go to the lowest gas price you can find(online)
- Finally Carpool-it’s the best tool because you get there all together and everyone saves money!$$$$$$$$$$$$$