By Thomas Kwan
Fuel prices rise to record highs, leaving Americans struggling to afford to get to work, heat their homes, and even afford groceries.
The national average price of a gallon of regular gas has reached $4.328 today, with many unable to afford the cost. According to a AAA report, gas reached an all-time high of $4.331 on March 11th, 2022, affecting every financial aspect of their lives. Money once allocated for other things such as food, healthcare, and everyday items, is being siphoned towards transportation costs. According to The Center for Neighborhood Technology and The Center for Transit-Oriented Development report, 50% or more of people's income is mostly housing and transportation costs, according to a report by Michael Sivak of Sivak Applied Research. On average, people consume roughly 400 gallons of gasoline a year.
Electronic goods, furniture, consumables such as paper towels, and whatever else you can think of average cost increasing gas prices. According to a bureau of labor statistics report, consumer goods aside from food and gas rose 0.5% in February 2022, following a 0.6% increase the prior month.
The sharp increase in gas also affects many businesses that sell goods through shipping industries, with costs of goods reflecting the price of inflation. Effective 4/28/22, Amazon will be charging sellers a 5% surcharge and is subject to change on products they sell through their store. Other businesses such as Uber and Lyft will also be adding a surcharge for fuel costs ranging from $0.45 to $0.55, affecting consumers instead.
The struggle is apparent as the climbing price of gasoline is taking root in America, affecting everyday people and industries.
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