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Over the last month, headlines have been flashing with news of record-high gas prices and surging inflation across the country. Back in March, President Biden announced that the U.S would ban imports of oil, natural gas, coal and some petroleum products from Russia following President Putin’s invasion of Ukraine. While supply was cut, the demand for fuel has only risen in the summer months.
According to the American American Automobile Association, gas prices reached their peak in mid-June, when they hit $5.02 a gallon. While prices have come down slightly since June, they are still roughly 27% higher than they were at the same time last year.
The New York Post spoke with monetary law professor, Robert Hockett, to understand why gas prices are surging and how it is impacting Americans spending habits.
Hockett emphasizes that fuel is an input to virtually all work and production. “The effects have been widespread and devastating for ordinary Americans,” said Hockett. “Many are accordingly trimming back on travel and other recreational uses of fuel, as well as belt-tightening at stores, restaurants, and elsewhere, which of course threatens our ongoing economic recovery.”
As Hockett explained, fuel is integral for many people’s lives. The increased cost of everything from gas to groceries is a burden that the entire country carries. There is no reason to wait on finding ways to save at the pump. That’s why we’ve come up with five great ways to save money on gas and curb the inflation crises.
Fortunately, stores like Costco, Sam’s Club and BJ’s Wholesale, alleviate the cost of gas for consumers by offering members access to the store’s private gas pumps. Oftentimes, these prices are lower than what you will find at a regular station. Plus, members can enjoy other exclusive discounts on essential items. Sign up for a membership with the store nearest to you and start saving today.
Carpooling apps are a great way to share the cost of commuting. Plus, carpooling also reduces traffic and helps the planet. You might even save some time by hopping in to the express lane. Download Waze Carpool for free and give it a try. Maybe you will even make some new friends while you’re at it.
If you’re ready for a major life change, then it might be time to swap the car in for a new means of transportation. Biking is great for cardio, and you might even cut some time off your commute by using the bike lane. These hybrid electric bikes have 3-speed systems and an easy-to-use Nexus shifter so you can easily handle longer distances and moderate hills.
Remember those joy-filled days of scootering down your neighborhood cul-de-sac? Now you can relive your childhood dream with a commuter scooter. You can travel up to 15 miles on this electric scooter, and charge it back up within 4 hours. With a top speed of 15.5 mph, you will be flying past pedestrians, and having the time of your life.
It’s not too late to jump on everyone’s favorite pandemic pass time. Rollerblading is a great option for people who only travel short distances or live in compact cities. Plus, you can improve balance, agility, strength and endurance, and have fun while doing it. These skates can be worn at the roller rink, or outside on paved trails, sidewalks, and boardwalks.
For more content, check out the New York Post Shopping section.