Isn’t it nice to look back and think about gas prices at $1.00 per gallon or even $1.50 for younger generations? Today, you can’t even find gas prices for double that amount. Minnesotans now pay an average of $3.68 a gallon for gasoline, up a full 10 cents more per gallon two weeks ago. “Demand for oil is lower than it has been in five years, yet instead of a drop in gas prices, families in Minnesota are breaking the bank just to fill up their tanks,” said U.S Senator Al Franken. Since the beginning of the year, gasoline prices in the U.S have spiked upward from about $3.25 a gallon to about $3.80. If continued at this rate, gas prices will top $4 a gallon by April 13. Compared to 2009, Americans paid an extra $65 a month on gas in 2011. For family budgets already stretched to the max, an extra $65 a month will inhibit other decisions to spend money elsewhere. No doubt we need gas in our vehicles to transport anywhere, so when do you draw the line for gas prices to be too outrageous that no one has the funds for anything? With gas prices rising rapidly, goods and services that require transportation to be delivered also go up. These goods can range anywhere from products you want to everyday needs. Groceries have also been on the increase as results of high gas prices. So, when consumers have gas to pay for and groceries (any necessities) to buy, how are individuals able to find the funds for other activities? Of course we don’t need to go to the movies, or go to water parks, eat out at a restaurant etc., but the economy can’t fix itself without business activity. If it were my choice, I would start with lowering gas prices, or at the very least stop them from increasing so quickly. More demand for products will obviously increase these prices, but does it have to be so extreme to the point of breaking every middle-class American and under? Note that only 5% of U.S citizens are considered “Rich”. That is a significantly low percent compared to the majority of the people.
Tag(s): News