Effects of High Gas Prices

Gas prices restrict movement of people. Going to church may cost you $5 roundtrip each Sunday. Do you attend or stay home? With the worship service streamed over Facebook, why not stay home and save the gas? Would like to eat out, but that is a choice, a luxury even, and easily avoided. A sandwich will do, or a bowl of soup. So much cheaper but think of the gas money saved.  

That’s how most of our mind’s work. I once had an owner of a family restaurant tell me his business would suffer if pump prices kept rising. This was years ago, but I watched his patron traffic dwindle sharply as pump prices rose. We discussed this; he said it is simple: more costly gas makes drivers feel instantly poorer. They feel obligated to balance out the rising expense by cutting out something else. Eating out is one those things easily cut from the spending habit.

In 2022 gas prices are at historic highs. Yes, cars are more efficient, but still, $50 to $100 to fill the tank?

Now, place that reality on the budget of most senior citizens. $100 for a tank of gas means the car will be used only for trips to the drug store, grocery store, doctors’ office and medical clinics. Oh, of course, trips to the gas station remain a must!

Place this reality on young people as they struggle to find affordable housing, jobs that pay above minimum wage, and yet have to shell out for inflated prices on transportation costs plus gas fill ups. Of course these people will save where they can to make up the difference.

As senior citizens, we are even cutting back on food and avoiding costly prescriptions. There are many who claim this is unnecessary, but then they don’t live in the shoes of those who find scrimping coins necessary.

Inflation is survivable. Some components of inflation, however, do more damage to households than others. Time to re-think social programs and public policy. Real lives are suffering today. We all need to think creatively about possible solutions.

May 10, 2022

 

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