Gas prices continue to rise and while a few cents per week doesn’t sound like much, families across the nation are discovering that rising gas prices are definitely having a noticeable impact on their monthly budget.
According to an article on the AlexandriaNews.org website, Americans fuel expenditures averaged $368.09 in April 2011. This is almost double what was spent during April 2009 - $174.80. Obviously an increase of a few cents per week begins to add up.
California single mom Aljolynn Sperber is sacrificing visits with her family due to the high cost of gas. In an article on CNNMoney.com, Sperber explains that she hasn’t seen her family in six months because gas prices make the 400-mile drive to Sacramento cost-prohibitive. An increase in fuel surcharges by airlines eliminates flying as an alternative as well.
Financial guru Dave Ramsey’s subscription-based website, MyTotalMoneyMakeover.com is polling members about gas prices. Members of the site are asked if gas prices are making a big impact on the budget and 67 percent of the 4,523 respondents said that fuel costs are absolutely having an impact on their budget.
While public transportation or skipping the car altogether are ways to mitigate the impact of high gas prices, not everyone is in a community serviced by mass transit or one that is bike or walking-friendly. Ridesharing, telecommuting and combining trips are alternative ways to reduce your monthly fuel costs.
I’m curious, are gas prices impacting your budget? If so, what are you doing to reduce this impact?