Gas prices have reached a new high in New York with the average price of gas currently at $5.04 in the state and the highest amount in Essex county at $5.11.
Why are the prices so high right now?
In most cases, Americans drive more starting around Memorial Day, so demand is up due to summer travel and vacations. In addition, global prices of oil are rising, compounded by sanctions against Russia, a leading oil producer, because of its war against Ukraine. (source)
This means the end users are often facing sticker shock when they fill up at the pump. When you include other costs rising such as the cost of groceries and rent, it's easy to see why many people are struggling financially right now.
So what can you do about this problem?
For starters, you could stay at home for vacation and have a "staycation." This will help you save a ton of money on fuel costs and you can do other things with your money instead of spending that portion of money on fuel. If your vehicle has a 16 gallon tank would pay around $80 for a fill up of fuel. If you fill up twice, that's $160 right there. If you cut down on your driving, and spend $40 instead on fuel, you could have $120 to spend on something else. While $120 is not a ton of money, it still can pay for dinner or admission to the zoo or something like that. If you use coupons as well, you can save even more money and have a great time too.
What do you think about gas prices? What are you doing to save some money instead of spending a lot of money at the pump? Please feel free to share in the comments.