Struggling
In these tough economic times, the last thing Americans need to hear is that gasoline prices could rise to record levels next year.
A combination of global demand and rising U.S. fuel exports could ignite the price surge, according to analysts.
According to the Department of Energy, average gasoline prices are higher by nearly 56 cents per gallon than at this time last year.
The possible hike is a scary proposition as America struggles with persistent high unemployment, and more and more Americans struggle to pay their mortgages and put food on the table. Higher prices could squeeze more citizens out of the American dream.
Higher fuel prices not only impact motorists, but could put more financial pressure on airlines, which will likely increase airfares to deal with higher fuel prices.
A practical short-term solution is for Americans to drive less and, for those who can afford it, buy more fuel-efficient vehicles. ….
Right now, though, the cost and size of electric vehicles, along with the relatively short driving ranges, make them impractical for families that can only afford one vehicle. …
Now, however, the specter of $4-plus-a-gallon gasoline will be like a perpetual economic nightmare for families looking for ways to cut expenses.
The Commercial Appeal, Memphis, Tenn.
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