The Associated Press has a clip about how some people are using the web to save money on gas prices. In this case people are using Craigslist to find carpoolers. The AP video suggests you meet in a safe place - you don't want to share a ride with a dangerous person.
Gas prices may be starting to weigh down U.S. consumers. The gas prices have been hovering at or above $3 for what seems like forever. The problem is gas prices are at $3 now and we are still months away from the peak driving season. CNN reports that consumers are starting to show some real resistance to the high prices but it is unclear whether it is the prices themselves or the weakening economy that is causing the reduced spending.
"With prices over $3 a gallon, there seems to be some real resistance from the consumer," said Michael McNamara, director of research for MasterCard SpendingPulse.
In some weeks demand has fallen by as much as 3 percent.
Although the public has seen $3 gasoline before, 2007 has been different. Where previous price spikes were short-lived, this one seems to be here to stay.
Another reason demand is falling could be due to a slowing economy, or even fears of a recession.
Since topping $3 back in April, gasoline has stayed consistently high, with the nationwide weekly average price never dropping below $2.70 a gallon, according to the Energy Information Administration. For 19 of the last 33 weeks, gasoline has averaged over $3 a gallon.
If gas prices soar as they always do in March, April and May than U.S. consumers could be in for a historically painful experience at the pump. Let's hope somehow the oil prices drop well before that dreaded period begins.
The AP reports on the soaring gas prices. Gas prices are already ahead of the national average of $2.62 that the Energy Department expected for a high this summer.
The Energy Department says it expects the price of regular to average $2.62 a gallon, 25 cents more than last summer, over the April-September driving period. But prices around the country already are above that.
"Look, it's $41 to fill it up," complained Lorenzo Rivera, 26, a restaurant manager, as he pumped mid-level gas Tuesday at $3.05 a gallon at a Chevron station near the Watergate complex in Northwest Washington. Across the street at an ExxonMobil station, regular grade was going for $3.09 - and there weren't many customers.
Ervin Goodall, 56, a professional driver pumping supreme grade into his large sedan, was paying $3.29 a gallon. "It's lot higher than last year, a bigger hit," said Goodall, who added that when it comes to personal driving he's scaling back — no more Saturday day trips.
Guy Caruso, head of the Energy Department's statistical agency, said prices at the pump, which averaged $2.68 a gallon last week nationwide, are likely to increase 10 to 15 cents a gallon in the coming weeks, peak in May and drop off in late summer. He said the national average can mask local price spikes.
Airplane tickets are expensive as well so people with summer travel plans may be forced to drive anyway despite the rising costs. Gas prices are running significantly higher than a year ago -- as much as 40 to 70 cents higher. The hurricane season starts in June and one major hurricane in the Gulf could mean even more pain at the pump.
