I keep on hearing about gas prices. How they are hurting the average American. Typical media frenzy? Have you wondered how much gas prices increased from last year? A dollar? 2? 1.50?
How about 40 cents. That’s right the average price of gas went from 3.22 to 3.62 a gallon. Yes I do have sources below from CNN.
So what does that translate to? If you fill up your car every week, it’s probably an increase of $32 a month. 20 gallons X 40 cents X 4 weeks.
Is the average American so over extended that $32 a month per vehicle is the straw that broke the camels back? What’s the median income in the US? About $48,000.
Well, I guess if you have a $600 car payment, mortgage, HELOC, boat payment, plasma TV and credit card debt, it might be hard to come up with that $32 a month.
I really haven’t felt the gas or the food increases. Maybe because I live on a budget and follow it. True, I might have to substitute lower priced options like pasta for rice. But, it’s not like I have to go from Lobster to Ramen noodles.
Anyway aside form truck drivers, I really don’t see how all this really affecting the average American. Maybe, I’m too rich. After all, I am only 23k in debt.
Source: http://money.cnn.com/2007/05/21/news/economy/record_gas_monday/index.htm
Source: http://money.cnn.com/2008/05/05/news/economy/gas_prices/index.htm
Gas Prices .. Really?
May 7th, 2008 at 03:31 pm
May 7th, 2008 at 03:57 pm 1210172236
What Mrs Clinton was trying to say is that people who drive alot of miles would appreciate the gas tax holiday. I don't think that that will necessary fix the problem of gas though. I think that it could ascerbate the problem.
May 7th, 2008 at 04:03 pm 1210172612
May 7th, 2008 at 04:27 pm 1210174066
May 7th, 2008 at 04:33 pm 1210174428
But yeah. I am totally sympathetic to the plight of the poor. But I am SO SICK of the middle class going on and on and on. They are in for a rough few years. This is just the beginning when it comes to gas and grocery prices. Stop whining and start preparing for it to get worse. !!
I can't even read the paper with all the middle class whining... IT is just getting SO old.
May 7th, 2008 at 04:55 pm 1210175701
I just went back to my records and I was paying $2.29 per gallon last year. I'm now paying $3.74. That is a difference of $1.45 a gallon and with a civic gas tank of 12 gallons - that's $17.40 more on a fill up.
I live on a gas budget per month and it was never based on $3.74 cent a gallon gas.
Maybe you aren't feeling it in your tank; but you are in your food prices, services, and other items that have gone up in price as a result of the increases.
Many of you are going to start paying higher prices for services such as someone like my husband who is going to charge more now because of the gas prices.
I don't think that people are whining. I think it is a legitimate concern when you are living on a certain amount of money a month.
May 7th, 2008 at 04:57 pm 1210175878
So it really hurts the business and jobs which they often pass the price increase to their customers who are paying a little more for their own gas increase along with groceries increase and etc. It hurts business more than individuals on a larger scale.
May 7th, 2008 at 05:08 pm 1210176499
Are you sure you didn't go from 3.29 to 3.74? That would be more inline with the articles I have been reading.
Anyway, we could save a lot of money on gas if the refinery didn't have to switch for summer formulas. By the way I think Vermonet has its own formula.
May 7th, 2008 at 05:18 pm 1210177133
May 7th, 2008 at 05:20 pm 1210177213
Having said that, I am a middle class American, with a husband who has been laid off and is looking for work, we have to take COBRA insurance to the tune of $1000 per month. We do not live lavishly, we do have debts we are working on repaying, we have not had a vacation in years, and usually feel like we are just scraping by. So, an extra 40 cents per gallon since last year may not seem like a lot, but to families who did not get a pay raise last year, who pay ungodly amounts for health insurance, and have spouses who have had to take 2 pay cuts in the last two years--when income doesn't keep pace with price increases--you tend to feel it quiet a bit. I understand that some people see it as "whining" when families express frustration at paying an extra 11 cents per pound for bananas, but not every middle class American should be classified as a "whiner" or as an over-reactor. Like I said, many people are still trying to live beyond their means, but not all of us are.
May 7th, 2008 at 06:08 pm 1210180128
That's the problem with YOU, you are reading too much in to what you are reading! @@ It seems likes it's only right/true if/when you agree with has been written! @@ Guess what? Don't be so quick to believe anything/everything you read.
May 7th, 2008 at 06:15 pm 1210180552
May 7th, 2008 at 06:21 pm 1210180879
I don't have to agree with someone who is saying something that is contrary to what I think or what others are saying. It is right for me when it is my experience not yours.
May 7th, 2008 at 06:29 pm 1210181356
The articles I have been reading say the national average for 5/2007 were around 3.22. I asked if you were sure. But I guess I should take someones random word on a blog then believing CNN, WSJ, and Bloomberg. Since they all say the the ave national gass price increased 40-45 cents from 5/2007 to 5/2008.
I do find it interesting that May of last year you were paying 70% on the national average and this year you are paying 104%. It does seem odd.
By the by, I don't trust everything I read. I usually try to double source my information. I just beleive that the media is creating a scare that isn't necessarily true.
I am also saying that for the average American, the price increase from last year is not enough to be a deal breaker.
May 7th, 2008 at 06:37 pm 1210181852
May 7th, 2008 at 06:47 pm 1210182459
Here is a site from AAA that shows increases from last year to this year in my area of 60 cents.
If you use Diesal, there has been larger spikes. This page pretty much localizes gas prices.
But a lot of places only show and increase of 40 cents. So I stick by my original thoughts.
May 7th, 2008 at 06:51 pm 1210182665
May 7th, 2008 at 06:55 pm 1210182908
I took a quick look at some of the states and 40 cents seems to be reasonable.
May 7th, 2008 at 07:05 pm 1210183548
May 7th, 2008 at 07:11 pm 1210183908
May 7th, 2008 at 08:09 pm 1210187395
May 7th, 2008 at 08:21 pm 1210188064
$9.00 a tank more and I was saying $8.00 a tank more. I stand by my orginal blog. using your figures, $9.00 a tank more on an annual salary of $48,000 should not be a deal breaker. So my end numbers are not that far fetched.
By the way, I am exclude people that drive for a living and I realize that deisel has gone up over $1. I am just talking about normal people with normal driving, using regular gas.
And $9.00 is close enough to my $8.oo estimate. By the way, the Feb 2007 to May 2007 increase (2.14 to 3.00) which represents 3 month, was greater then your May 2007 to May 2008 increase.
May 7th, 2008 at 11:51 pm 1210200674
http://www.californiagasprices.com/retail_price_chart.aspx
It was interesting to note that the average gas prices in CA in July 2007 was 2.79 and even in February the average price was 3.14 or so. I paid 3.99 a gallon on my last fill up on Friday. Between July and now that is an increase of 1.20 in less than a year. Today the cheapest I could see on my way to work was 4.09. And premium was 4.29. I know other places are paying even more.
I only get one tank of gas a week as I budget 40 a week. That does not even get me a full tank. I am going to have to up it to 50 a week.
Listening to the Today show Monday freaked me out because they said some economists can see the price for a barrel of oil reaching 150 to 200 within a year.
How does that grab everyone?
May 8th, 2008 at 12:01 am 1210201271
May 8th, 2008 at 12:47 am 1210204056
I do know also, that my tips are going down compared to last year ... and that's what's really scaring me. If I am not making as much money per month, and the prices are going up ... that's not a good sign on my end.
May 8th, 2008 at 01:55 am 1210208134
I looked back at my records and I paid $2.81/gal on November 19, 2007 (when I started using YNAB) and today the same station is at $3.42/gal - so a total increase of $0.61/gallon over the last 6 months or approximately 10 cents/month.
I am still budgeting $100/month for gas, but with my 44 mile round-trip commute it is getting tight. I have tried to not drive on weekends whenever possible and have been hypermiling as I explained in my blog a couple months back. I've been getting 34-36 miles per gallon regularly since starting to hypermile which is why I have been able to stay at $100/month so far. Maybe not for too much longer though if prices continue to rise through the summer.
May 8th, 2008 at 06:47 am 1210225637
May 8th, 2008 at 04:03 pm 1210259030
Of course, 2008 is not over yet.
We also live in the same city and have been paying $3.65 gas. We paid much more than $2.79 last summer. So I am not seeing the huge jump either I guess.
To me it is just very deja vu. I guess it is hitting people's breaking points more.
& I couldn't agree more on the health insurance. Our health insurance has gone up 800% in 5 years. What does that have to do with gas? It's all the more reason I think the freakout over gas is ridiculous. So I have to budget another $25 monthly? All these years trying to figure out insane health insurance increases, this seems like a walk in the park.
Anyway, let me be clear. I am sympathetic to anyone truly struggling. IT's just a shame the media is intent on covering the idiots who make six figures and drive gas guzzlers. That stuff is what is getting so OLD. Otherwise I have little to argue about anything else said. I've said many times I wish the media would cover more those who were truly struggling.
May 8th, 2008 at 10:09 pm 1210280949
Not only are fossil fuels harmful to the environment, but they're also finite. We need to change our national way of life and figure out how to not use as much.
It does suck because some of us live on such tight budgets, but it's a reality that's not going to go away.
May 11th, 2008 at 05:11 am 1210479096
May 13th, 2008 at 06:37 pm 1210700220
May 13th, 2008 at 07:26 pm 1210703171
May 14th, 2008 at 04:22 am 1210735348
That is rough on two young adults that don't have established assets or careers. We are struggling, have very little extra money, trying to save for future stuff (wedding, etc), and we feel every little increase. I try not to whine, because I don't see how that helps anything, but I do think it's a little unfair for people who don't have to commute or live within a city to judge how hard this has been on others.
I currently have a 45 mile commute to work five days per week. Back home, my parents have to commute between 20 & 35 miles to work, just to have decent jobs (they make about $40,000). They don't have a choice, and it sucks.
May 15th, 2008 at 01:25 am 1210811143
May 21st, 2008 at 07:28 pm 1211394480
May 24th, 2008 at 06:08 pm 1211648929
May 29th, 2008 at 03:44 am 1212029078
We still pay more for tolls than for gas!
June 1st, 2008 at 02:28 am 1212283681
i know this thread is all about americans but i just wanted to show that it's happening all over