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GasBuddy News Article

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Gas Prices: Is the Pain Real

Businessweek.com -- Gas prices have jumped by 30¢ a gallon, to an average of $3.73, over the past month.

The economic impact is substantial because gas is a fairly big part of people’s budgets. Lower-income people especially are getting squeezed pretty horribly.

Just how much? A recent Credit Suisse report says each penny increase in gas prices takes $1 billion out of the economy over the course of a year. So a 50¢ jump would mean $50 billion that’s not spent on other stuff.


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Submitted Mar 03, 2012 By: Gas Cat
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Gas Prices: Is the Pain Real Back to Topics
REPLIES (newest first) Post a Reply
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Cashless
Champion Author Akron

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Points:1,277,655
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Message Posted: Mar 4, 2012 3:58:39 PM

My wallet is now bleeding, yes my pain is officially real.
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IwanFL
Sophomore Author Gainesville

Posts:238
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Message Posted: Mar 4, 2012 12:29:51 PM

It really hurts our pocket
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07skydriver
Champion Author Ohio

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Message Posted: Mar 4, 2012 7:47:24 AM

Just stay home.
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SavingInNC
Champion Author North Carolina

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Message Posted: Mar 4, 2012 7:33:55 AM

Yes
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kitty1750
Champion Author Kitchener-Waterloo

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Message Posted: Mar 4, 2012 2:21:25 AM

$5.20 a gallon here in Canada now, up another 16 cents since yesterday.
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schatzila
Champion Author Los Angeles

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Message Posted: Mar 3, 2012 10:19:47 PM

It sure is.
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vjs3
Champion Author Denver

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Message Posted: Mar 3, 2012 8:52:50 PM

I think all of us will be impacted.
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fishnhuntWV
Veteran Author West Virginia

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Message Posted: Mar 3, 2012 7:59:32 PM

plant a garden this year food is going to be high,and may go higher than what people are forecasting, more food this fall and summer will go to biofuel, probably way more than last year
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alterman156
Champion Author New York

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Message Posted: Mar 3, 2012 7:43:05 PM

The pump at the pump will be felt when gasoline reaches $4+ per gallon. Many stations in my area are at $4+ per gallon.
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investmentdr
Champion Author Cleveland

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Message Posted: Mar 3, 2012 7:36:27 PM

burritos cause gas pain
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investmentdr
Champion Author Cleveland

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Message Posted: Mar 3, 2012 7:36:02 PM

it's only painful if you have to buy it
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amerk73
Champion Author Dallas

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Message Posted: Mar 3, 2012 4:12:42 PM

gas price big pain
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gasokie
Champion Author Oklahoma

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Message Posted: Mar 3, 2012 2:20:43 PM

When adjusted for inflation, gas has hardly gone up since 1980. I think what hurts worse is "working people" are making less. Some I know have lost their 30 buck an hour jobs and make about half that now but costs are still going up, hard times are here.
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Rehorsehay
All-Star Author California

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Message Posted: Mar 3, 2012 2:16:25 PM

Not everybody can be rich. A hard working man that goes to work every day shouldn't have to live pay check to pay check. LIVING WAGE not FROZEN WAGES. All the speculator's and investers just drive the price of oil up! there bye drivng the price of every up. The working man can't keep up!
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Charley_7
Veteran Author New York

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Message Posted: Mar 3, 2012 1:51:54 PM

More affordable public transportation system to offset higher prices would be a good start...
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shawnpv
Rookie Author Texas

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Message Posted: Mar 3, 2012 1:42:38 PM

@Dave27johnson.... those very rich folks don't keep all the money in the bank or under their mattress, it doesn't earn them anything there. Instead, they invest it elsewhere and that means more businesses, bigger businesses and more hiring. Don't begrudge those that have earned large fortunes.....instead you should work to get there yourself.
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JustDrill4Oil
All-Star Author Dayton

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Message Posted: Mar 3, 2012 11:14:30 AM

Get rid of O'bummer and take a step toward sane economics.

No Food for Fuel!

Just Drill 4 Oil
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AlgaeNOW
Champion Author Wyoming

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Message Posted: Mar 3, 2012 10:33:57 AM

Algae NOW...!
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firenrn
Champion Author San Diego

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Message Posted: Mar 3, 2012 10:18:31 AM

Ouch. It's real.
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dave27johnson
Champion Author Chicago

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Message Posted: Mar 3, 2012 10:03:21 AM

When it costs more for the average driver to buy the same amount of gas, billions of dollars pile up in the bank accounts of very rich people.
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Lugi1967
Champion Author Ohio

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Message Posted: Mar 3, 2012 9:59:32 AM

Painful to say the least
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bar1035
Champion Author Charlotte

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Message Posted: Mar 3, 2012 9:37:26 AM

Good to have a job. Not one of those legislated out of existence in 1994 yet.
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leraar2
Champion Author Massachusetts

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Message Posted: Mar 3, 2012 9:06:49 AM

not only is the money being sucked out of the economy,

it's not even staying in this country, nor are significant taxes acruing
to the US Treasury.

the bulk of the money is going to INTERNATIONAL OIL COMPANIES.

they have NO LOYALTY to the USA.
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bullet226
Champion Author Toronto

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Message Posted: Mar 3, 2012 9:00:50 AM

$5 a gallon here in Canada
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scu227
Champion Author New Haven

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Message Posted: Mar 3, 2012 8:52:11 AM

It is to my wallet and it also has that domino effect with prices on food, taxes and almost everything else too. The only thing that does not rise is our income.
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Grizdad
Champion Author Montana

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Message Posted: Mar 3, 2012 8:51:11 AM

I drive the Freeway that leads from LA to Vegas when I work. Fridays are usually pretty packed on the freeway. Not so last night. Just zipped right along...
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bigmoo63
Champion Author Kalamazoo

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Message Posted: Mar 3, 2012 8:35:05 AM

What kind of a stupid headline is that? Of course it is.
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Evilmaddog
Champion Author British Columbia

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Message Posted: Mar 3, 2012 8:12:38 AM

economy killer
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coughlin
Champion Author San Jose

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Message Posted: Mar 3, 2012 8:12:25 AM

It's becoming a fact of life.
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dal1
Champion Author Illinois

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Message Posted: Mar 3, 2012 7:56:56 AM

IT HURTS!
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TruthMatters
Champion Author New Jersey

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Joined:Oct 2011
Message Posted: Mar 3, 2012 7:50:03 AM

The pain should be real, but not many people are showing it. Simply slowing down can save gas, but people in my area are still driving around like maniacs!
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gs7101
Champion Author San Antonio

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Message Posted: Mar 3, 2012 7:40:50 AM

Yes, the increased price of gas is a big pain in you know what. It's like adding an additional tax to your income!
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07skydriver
Champion Author Ohio

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Message Posted: Mar 3, 2012 7:36:21 AM

Just stay home.
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SUNOIL
Champion Author Toledo

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Message Posted: Mar 3, 2012 7:30:05 AM

And whose pocket does that $50 billion go in?
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Joeski1
Champion Author New Jersey

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Message Posted: Mar 3, 2012 7:26:34 AM

Is the pain real??

hmmmm.....

please wake me up soon if it's all a bad dream....

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1momsunshine
Champion Author Ottawa

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Message Posted: Mar 3, 2012 6:57:54 AM

wow
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yardslave
Champion Author Oklahoma City

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Message Posted: Mar 3, 2012 6:44:44 AM

Ok
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jrs4125
Champion Author Indiana

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Message Posted: Mar 3, 2012 6:26:04 AM

North central Indiana price went up again. It is now 3.99 a gallon for regular. One month ago it was 3.08.
My question is how is the US a net exporter of gasoline? Again the 99% pays the price.
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APlus
Champion Author San Antonio

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Message Posted: Mar 3, 2012 6:00:32 AM

What is inflaction?
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Buckeyee
Champion Author Maine

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Message Posted: Mar 3, 2012 5:35:47 AM

Look for inflaction to jump in both food, & energy. This is what happens when Obama pushes his " Green " agenda.
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Pozole
Champion Author Portland

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Message Posted: Mar 3, 2012 5:35:33 AM

...OWOOOooooow ! !...
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BIGOILEATURCRUD
Champion Author North Carolina

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Message Posted: Mar 3, 2012 5:12:51 AM


Only painful as one makes it. Still cheaper than beer.
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BBopp
Champion Author Dayton

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Message Posted: Mar 3, 2012 4:54:56 AM

The pain at the pump is real! I for one pay attention to the price of groceries.
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bills299
Champion Author Atlanta

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Message Posted: Mar 3, 2012 4:43:27 AM

Yes it is real!
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graceman
Champion Author Baltimore

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Message Posted: Mar 3, 2012 3:39:29 AM

oil companies are just thumbing their noses at us.
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WalRus49
Champion Author Boston

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Message Posted: Mar 3, 2012 3:38:36 AM

More organized mayhem and pillage............
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TRYWI
All-Star Author Appleton

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Message Posted: Mar 3, 2012 3:21:03 AM

ok
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123cowboy
Champion Author Maine

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Joined:Mar 2011
Message Posted: Mar 3, 2012 3:00:11 AM

sounded like someone trying to justify the public getting the shaft on gas prices...
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djgunrunner
Champion Author Salt Lake City

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Message Posted: Mar 3, 2012 2:53:40 AM

As long as obama continues to do nothing then the prices will continue to rise. By using Natural Gas he would reduce the demand for oil and keep a lot of money in America as well a cut pollution.
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fullcirclethink
Champion Author Washington

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Message Posted: Mar 3, 2012 2:35:03 AM

Funny how so many in the media are doing their level best to downplay a very serious impact higher gasoline prices are exacting on the economy. Especially when they were all over the previous administration when gas prices were on the rise! What a bunch of hypocrites!!
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