HOUSTON—Commuters who have visited gas stations in the past few days have certainly felt the pain at the pump.
“It’s getting tougher and tougher,” said James Bates, a Houston machinist who drives 80 round-trip miles a day.
At the current price, Bates is spending $0.75 more a gallon more than this time last year. That means his round trip to and from work will cost him $866 more a year if the current prices stay constant.
“I don’t know what else to do,” he said. “You have to go to work to get money to pay for the gas and your other bills. You really don’t have any choice. You gotta pay what it says at the pumps.”
And pay more for everything else.
Airlines like Continental have added a $20 fuel surcharge and grocery prices are already on the upswing.
Economists say consumer spending is slowing as our money is diverted to pay at the pump instead.
“Then they’re gonna get blasted with these higher energy prices that will be reflected in further increases in food prices,” said SMU Business Professor Mike Davis.
Compared to the rest of the country, however, Texas doesn’t have it so bad.
The lowest average in California right now $3.76. California diesel fuel is already $4.17.
So when Bates is asked about his mood, he’s OK.
“It’s still a great country. I think they’re paying 5, 6, 7 dollars a gallon in Europe. We’re still doing great.”
Let’s see what he says in June when prices are usually the highest.
Via: KHOU.com
