Gas prices jump as vacation season heats up
Filed under: Budgets, Transportation, Travel, Recession
If it suddenly seems like you're paying more to fill your gas tank, you are.The price of gas rose 10 cents over the past week to average $2.62 a gallon, according to the Energy Department.
Over the past five weeks gas prices have risen 55 cents a gallon. Signs that some parts of the economy are recovering is contributing to the rise and there is anticipation that there will be more demand for gas going forward, according to USA Today.
Chicagoans paid the highest fuel prices at an average of $2.92 a gallon, while people in Houston had the cheapest gas at $2.40.
Other cities that saw big jumps in fuel prices last week include San Francisco (up 13 cents to $2.90), Los Angeles (up 15 cents to $2.89), Cleveland (up 18 cents to $2.81) and Seattle (up 10 cents to $2.74).
Although the $2.62 nationwide average is down $1.42 from a year ago, many people who are already struggling financially will find it tough to keep their tanks full.
The rise in fuel prices comes just as the summer vacation season is about to heat up. Many Americans have already downsized vacation plans this year as they tighten their spending, so rising fuel costs could squash even some of the more modest travel plans people have made.
A recent Associated Press-GFk poll found that 42% of people are planning a vacation this summer, but many are concerned about their finances and plan to shorten their trip and stay closer to home to save money. If gas prices continue to rise, many of those short-distance trips may turn into staycations.
So what can you do to stretch a tank of gas? Change the air filter and oil on your car. Check your tire pressure and use cruise control when traveling on the highway. And finally, get rid of unnecessary junk in your trunk to lighten the load.
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Reader Comments (Page 1 of 1)
6-09-2009 @ 3:46PM
mike ward said...
The Oil companies, and the Gasoline service stations are screwing the American Public everyday out of our hard earned cash, wake up people, the price of Gasoline is what has ruined the American economy, I/we a family of 8 have lost our home and ranch due to over pricing in the gas markets, and banking with Wells fargo as well. In Iraq Gasoline is only 0.18 cents per gallon. we are being robbed everyday, and the people are so ignorant they invite it by saying stupid things like watch the prices jump up when summer gets here, suprize idiots you asked for it you got it, how about spreading the news about the truth of our losses to the Oil companies who have made profits in the last three years than ever before in over 100 years!! think about it and pass it on, time to revolt and demand the President reduce the cost of gasoline and freeze the prices like they did back in the 70's. Then America will be strong again when gas is $1. dollar per gallon only!!!!!!!!!!!!! That is what made America the strongest country in the world, time to get back to the basics.
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