Gas prices have skyrocketed in recent weeks and many people are upset with how much money they are now putting towards their tanks each month.
The former record high was $4.10, set during the financial crisis in 2008. The prices recently reached $4.40 before the state’s gas tax holiday took effect last week.
However, there are different viewpoints on why these prices have hit record highs.
Many sources, such as The Washington Post, say that gas prices have gone up as a reaction to Russia’s assault on Ukraine. The recent events in Ukraine have diminished the availability of crude oil which created a tipping point between supply and demand.
Others say that the high prices have to do with inflation. According to CNBC, consumer prices within the U.S. are up 7.9% in the last 12 months. Inflation has been getting higher and higher all winter and prices are now mirroring that.
The top three rising consumer prices from February 2021 to February 2022 have been gas, hotels and rental cars. Gas prices have risen 36%, hotels 29% and rental cars 24%.
Regardless of why these prices have gone up, everyone must deal with it. Whether that be by changing a current driving routine, carpooling, not going out as much, or just paying the prices and not being happy about it.
As seen by Hood’s very full parking lots, many students have a car on campus or commute each day to class. College students have always been stereotyped as being cheap, but in regards to gas, there are different feelings on how this will affect students’ current driving habits and their bank accounts.
Some students are taking the latter route and trying not to think about how much money they’re spending when out driving around.
“I don’t really have a plan on changing my driving habits, I’ll just change my other spending habits if needed,” senior Brianna Benge said.
“Due to being an off-campus student and an athlete, I am required to drive every day. Gas prices were less than 2$ during COVID so this is just a part of the cycle and we got to pay it,” senior Lance Coffey said.
Others are coming up with new strategies to cope with the rising prices.
“I plan to drive a lot less because of the gas prices,” sophomore Zoe Finholm said. “When I get stressed, I’d go for a drive but I’m not doing that anymore. Since it’s getting warm out, I’m going to try to walk places instead of driving there and when I do have to drive somewhere, I’m trying to plan out my trips so that I do it in the most efficient way.”
“I’m going to try and not drive as much because I am not trying to pay these high gas prices,” sophomore Jenna Donohue said.
Be the first to comment