Gas prices are continually rising. In the state of New Jersey gas prices
have leveled out to around $2.90 a gallon. New Jersey is one of the only states that still offers full-service gas stations and doesn’t charge an extra fee for this service. With gas prices on the rise, government officials have spoken of changing this service to self-serve. Due to the insurance cost of going self-service, it wouldn’t change the outlook, and it would remain intact or actually cause the price to rise.
Gas prices tend to increase during the summer months when many families are traveling. The travel industry can feel the crunch when families choose different travel options due to the increased gas prices. Many families look for more local options or opt out of weeklong trips due to the extra cost on the family during the working weeks.
Gas prices are crazy everywhere, but if you think we have it bad in the United States, look at what some other countries are paying. In Malta, they are paying $5.53 a gallon. The $2.95 doesn’t look so bad anymore. United States consumes a huge portion of the gasoline as its demand is very high. Increasing demands in India and China are also putting strains on the oil markets.
One way to save money on the ever rising gas prices is to carpool to work. Another is to take public transportation if it’s available in your area. Many companies let their employees telecommute. This can save a lot of extra mileage by working from home.
Filling our Jeep last night cost us a whopping $43.00. We are a three car family, two which are sport utility vehicles and one is a car. We are guilty of being comfortable in larger cars, and it’s costing us at the pump. Is the option getting a smaller car?
Trading in a vehicle that you still owe money on, may end up saving you $500 dollars at the pump this year, but it may also cost you thousands of lost money. Weighing the savings is something that each family needs to look at individually. Smaller cars do offer better fuel efficiency, but space is at a minimum. Large families with children involved in sports who need to haul equipment back and forth don’t always have the option to downsize.
Gas prices are making families look at their choices and reevaluate their needs. Do we need those large vehicles or are we just used to them and prefer their comfort?