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Triangle Gas prices have increased from $1.572 in January 2009 to $2.90 this week as they head back towards $3.00 and above. This will no doubt raise the issue of poor public transit in the Triangle where people have no alternative to using their car to get around.
"It's the Scrooge that's messing with Christmas," said Tom Crosby, vice president of AAA Carolinas motor club. "The price has definitely increased enough to cause a bite in people's budgets. "The $3 mark will be a psychological wake-up call for people driving over the holiday. I think people will cut back a bit and perhaps not drive as much."
This hurts - DH commutes to Rocky Mount for work, and I work in N. Raleigh. We live as close to "half way" as we can, and luckily DH does have someone to carpool with. But this will still have a significant impact on our budget.
I'd love for us to have shorter commutes... but neither one of us are in a position to change jobs these days.
Prices are about $0.15 more today than they were a year ago. That means the average person has experienced a slightly-more-than $7 increase in their monthly fuel costs (per vehicle). I know gas prices always command a lot of press, but I think there are bigger economic indicators to worry about.
Oil pricing now seems firmly tied to economic activity due to supply constraints.
You'll note that the DJIA and the price of oil are up similar percentages over the last 12 months. Local gas prices reflect that.
So I'm afraid that this portends a continuing increase in fuel costs as the economy improves ,,,
It was expected that oil prices would rise with the rest of the markets. It's definitely hitting hard, but maybe it's a sign that the economy is going to recover soon!!
I've seen $3.00 a gallon here in Hillsborough already. I'll be curious to see what the prices look like after the holidays, though. Holiday times always seem to bring a bump in gas prices.
What you're seeing is a result of the administrative policies designed to "improve the economy" (read printing money by The Fed as direct injection into the stock market)... Foodstuffs and energy, the things we buy every day and not counted in the core CPI, are rising as a result of these irresponsible policies and summarily get ignored because we can buy LCD TVs and Cars at discounted prices with easy credit. The clowns are inflating the wrong things!
I won't get into Peak Oil or anything, but we all know that so much of the foundation of pricing things are impacted by the costs of producing and delivering them. Increased gas prices have a much wider impact on our budgets beyond what we pay at the pump... We pay for higher fuel prices in everything we use daily - how else do you think they deliver these goods to the stores where we buy them?
Wish I had seen this thread before pulling up at the pump minutes ago. Shocked to see 2.92 staring back at me.
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