Monday, November 22, 2010

Prices at the pump continue resurgence

By Adam Alvarez
Correspondent writer

TAMPA, Fla. -- Currently, the average gallon of gasoline in Tampa, Fla. is $2.809. Perhaps surprising to some, that price tag is actually 9 cents cheaper than the national average. Still, that leaves little consolation for local motorists.

“In today’s economy very few things are certain. But I can be certain the price at the pump is going to rise every week,” said Jim Hunter while filling up his Ford F-150 at a local Texaco.

On an average week, Hunter spends over $70 on gas. Unfortunately, he finds himself with little as far as a way out from the hefty costs.

“I need this truck for my job. I can’t just take public transportation or start driving a small car that is more fuel efficient,” said Hunter.

For other drivers there are options such as hybrids, but even they come with a cost. The Toyota Prius, for instance, has a starting price of $22,800. That’s over $7,000 more than the cost of a Toyota Corolla.

“It was a hit to the pocketbook, but eventually I think it will just about pay for itself,” said Sharon Vaughn in regards to her 2010 Prius. “At least I feel more comfortable driving this car because I think gas is only going higher.”

Other drivers, however, aren’t ready to splurge.

“You hear everybody saying that buying a hybrid or an electric car will solve all your problems. But they fail to realize that if you can’t afford nearly $3 a gallon for gas, there’s no way you’re  going to be able to afford a new car,” said  Geoffrey Harris, who views the $45 a week he spends on gas to be enough of an expenditure.

The reason for the rise and the expected continuing rise in gas prices stems from the nation’s currency. According to Bloomberg, the United States dollar has plunged over the past six months from being worth 88 cents in May to now worth only 77 cents. That drop has the greenback close to approaching its lowest level since 2008 when gas prices peaked.

Meanwhile, gas station clerks openly admit to a further rise in prices.

“By the end of next year, gas prices will probably be at least $4,” said Benton White, who works at a Shell gas station off Hillsborough Avenue.

That potential rise would not only be unwelcomed by many drivers, but unmanageable.

“I don’t make enough money to support the cost of gas now,” said Ashley Zinnick while filling up her Honda Accord. “If it went any higher I really don’t know what I could do.”

The problem for many is that the option of cutting back on other expenses is no longer an option. In a poll of 50 people, 43 said they were spending less than they were last year. That number comes despite the fact the Florida economy is now considered to be recovering and in better shape than this time last year.

``We have actually seen job increases in a number of industries, including those that have been fairly troublesome in Florida,'' said economist Mark Vitner in an interview with the Miami Herald following the release of the September state unemployment figures which came in at 11.9 percent.

However, a recovering economy is not something many local motorists are looking forward to.

“I can’t believe I’m saying this, but when it comes to gas prices I will actually be worried the day the economy does fully recover,” said Harris.









To read about a recent measure passed that would increase the amount of ethanol in gasoline, click here.

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