Consumers Making Cuts Due to High Gas Prices
This video is no longer available.
Even with positive economic news, one area that is beginning to put a crimp in the pocketbook of consumers is the gas pump. The jump in prices are linked to oil prices that are climbing to the highest level in a month on expectations that supplies will tighten this spring. Investors are betting that developments in Greece, Europe and Iran will tighten availability. The National Retail Gasoline prices rose less than a penny this week to a national average of $3.53 a gallon. In Jackson, pump prices range from a low of $3.39 to a high of $3.69. Some consumers said they are beginning to look at making cuts in other areas because of the rapidly rising prices. “I’ve been trying to go less,” said driver Coranda Malone. “Haven’t been going like I normally do because gas is so expensive.” “You have to do what you have to do,” said driver Eric Hosey. “So, I mean if you have to drive to work, you have to drive to work, regardless.” Some fuel and energy watchers said they expect prices to hit $4.00 a gallon by the summer.
