Higher gas prices in several U.S. cities are affecting driver travel
Economists say that American drivers who travel long distances daily are spending up to $100 a month on gasoline
After the start of the war with Iran and the closure of the Strait of Hormuz, the price of gasoline has skyrocketed throughout the country, reaching historical highs since 2022, by thousands of drivers in the last weeks in the larger cities have seen strongly affected their pockets in what now represents a substantial cost for their travel.
According to AAA data, the average gasoline price is $4.53 per gallon; however, in some states the cost is already over $6 per gallon. For Patrick De Haan, head of oil analysis at GasBuddy, “the average price to fill a tank today is $15 to $30 more expensive than a year ago,” told ABC News.
According to the reports from the American Automotive Association(AAA), among the states with the highest gasoline prices They are found in California, Nevada, Oregon, Washington, Alaska and Hawaii, where costs range between $6.14 and $4.65 per gallon.
“If you are those who travel long distances to work and live between 80 and 160 kilometers, and fill your tank two or three times r week, you're talking between $50 and $100 more per month. And for those who take very long trips, the impact is even greater,” De Haan pointed out.
In this sense, in the case of inhabitants in the Bay Area, Los Angeles, Dallas-Fort Worth or Washington, D.C. who inevitably of Ban commuting daily, GasBuddy economists say they can spend approximately $100 a month on fuel alone.
This has led many to choose to work from home. A survey released by AmericanMuscle.com revealed that 12% of American respondents had started to work remotely, 6% were looking for a job closer to home and 15% said they plan to switch to an electric or hybrid vehicle, all with the goal of saving money on gasoline.
From March to date, the rising gasoline prices has cost Americans more than $28,000 million dollars. “Some of it is seasonal, but it certainly represents a significant economic impact nificant; we are in the middle of all this”, highlighted the oil analysis in GasBuddy, while adding that it is expected that this summer the costs will be much higher until the Strait of Hormuz reopens.
Finally, both De Haan and other economists point out that high gasoline prices are only affecting lower-income households if they allocate their salaries to paying for fuel. "Without a doubt, that could cause an economic slowdown, depending on the severity of the situation," the specialist said.