Gas is Too Damn High: Can You Afford $5 Per Gallon?

Imagine spending $80 to fill up your gas tank — and you drive a Civic. That’s the grim reality many Americans may face in the upcoming months as crude oil prices continue to rise. Experts expect costs to continue inching up due to a combination of factors, such as political unrest in the Middle East and North Africa; increased gas consumption worldwide as countries such as China and India experience a boom in middle class; and the economy’s consistent — albeit slow — recovery.

African-American households are faced with a double, in some cases quadruple, whammy as the inflated prices eat away at disposable income. The reasons range from higher rates of unemployment and single-family households, to residing in states with higher gas taxes (which is the cause for price variation in different cities) and the inability to telecommute.

Economists predict that gas prices with continue to advance, especially with the onset of the summer travel season. Unfortunately, most of the discussions on how to handle the issue focus on coping with new rates instead of rallying for reductions. The top tips include carpooling, using public transportation and planning efficient traveling routes. 

So the budget-busting question: How high is gas in your city?



Per Anders said...
March 21, 2011 at 8:20 AM

Seriously, I'dont see what all you americans are ranting about.. We in Norway also produce our own gas, and here the prices are 10$ pr gallon. And have been for some years now. Get over it....