January 9, 2006
If you've done any traveling within the last week, whether out of town or just down the street. I'm sure you've noticed the price of gas is creeping up.
In one week gas prices have jumped more than five cents a gallon here in the Charlottesville area.
It is the same story, different season for Bill Doyle, who has felt the recent rise in gas prices.
"It puts a little stress on the budget. I have 5 cars in the family with 3 college-aged daughters. They all travel in and out of town, so the price of gas has a major impact on the budget in that regard," said Doyle.
Not only are larger families feeling the increase that is hitting their wallets. Businesses are as well, especially those that work from their cars. Once businesses start seeing an increase in what they spend, so will customers.
"I get off on my service car a little bit, that kind of compensates for it, but I can definitely feel the pinch when gas prices do [go up]. It definitely affects my bottom line," said Terry Bouch, who often uses a vehicle as part of his job.
Although our area hasn't reached the national average of $2.30 a gallon, many drivers don't like the rise in prices. According to a recent survey, the bottom line as to why gas prices are increasing is simple: supply and demand. Others say there are several reasons that factor in to the recent hike in prices at the pump.
?One reason is the price of crude has gone to $63 a barrel. Largely because of the interruptions in the Russian supply in crude,? said Tiger Fuel president, David Sutton. ?As demand goes up and supply gets restricted, you're going to see some price increases.?
As many of us learned this past summer as gas prices reached above $3 here in Charlottesville, and $5 in some parts of the U.S., as long as a driver has to get to a destination, they will pay to 'fill-er up.'
"I can't say it's really impacted our driving," said Doyle. "The kids still come to and from school, we still make the trips we want to make; it just costs a little more to do it."
If you are looking for some of the cheaper gas prices in town, the 7/11 station at Hydraulic and Rt. 29 has Regular selling for $2.15.
Sutton also adds that the Charlottesville area could easily see the price of gas go up or down. There's no way to determine what will happen at this point.