Spring Break
Gas price nears national all-time high of $3.11
Rising cost forces some to consider alternative modes of transportation
Brian Reisinger
Issue date: 9/19/05 Section: Campus News
|
"It used to be I never thought about money when I'd fill up," he said.
But this summer's continual price climb prompted a shift in his priorities.
As the school year approached, he decided to buy a more fuel-efficient car in preparation for the 80-mile commute he now makes three times a week from Roseville (Minn.).
He also began monitoring his fuel consumption closely, logging the number of gallons at each fill and watching his finances take the hit.
"For the first time ever I'm keeping track of how many gallons I'm putting in," he said. "It's playing a part in my decision making that it didn't before."
Those decisions range from the possibility of staying at colleagues' homes during the workweek to where he will live in relation to work in the future.
Gorham's concerns illustrate the effects of a recent gas hike that began to rival the nation's all time record high. According to the U.S. Department of Energy, gas averaged around $2.95 a gallon on Sept. 12, down from $3.06 on Sept. 5. Consumers paid $3.11 in March of 1981 when adjusted for inflation, according to Knight Ridder News Service.
In Eau Claire, prices are hovering at around $2.75, down from $2.99 on Thursday.
Ed Young, professor of economics at Eau Claire, said a price spike of this magnitude adversely affects the economy by decreasing consumer spending.
"People won't be able to spend as much on goods and services, so that's going to affect the overall economy," he said. "I think this will cause a recession."