Gasoline costs pinch consumers’ wallets

Crude oil prices are passing record highs, and Lawrence drivers continue to feel the pain at the pump.

“You either buy it or you don’t,” said Arkansas City resident Harold Lake.

The 66-year-old used to pump gasoline when he was in high school and remembers easier times. “I pumped gas that was 18 cents a gallon. It went up to 25 cents one time, and we thought we’d never sell it.”

America’s dependence on foreign oil is one of many problems facing the U.S. economy.

“Events overseas and the financial markets are just not breaking in the favor of the American consumer’s visit to the gas pump,” said AAA executive president James Hanni.

He said a weak dollar and a reduction in oil inventories have caused gasoline prices around the country to increase.

According to kansasgasprices.com, the average price for a gallon of gasoline was $3.13 on Friday. A year ago, prices were recorded at $2.46 per gallon.

“To hit $4 is not that far of a stretch,” said Richard Haig, owner of the Phillips 66 station at 2815 W. Sixth St. He predicts prices will be “$3.40 to $3.50 by Memorial Day.”

Gasoline prices tend to increase during spring and summer, which has many people rethinking their vacation plans.

“People might tend to make shorter trips,” Hanni said.

He said AAA surveys have shown that “people are starting to change their driving habits when the price of gasoline gets this high.”

Some drivers have turned to alternative fuel sources.

“We have had a big migration to E85,” said Haig, referring to the biofuel sold at the new Zarco 66 gas station at Ninth and Iowa streets.

Although ethanol prices are cheaper, some believe the fuel may be less cost-effective than advertised. “People are seeing that it’s $2.64 a gallon, but they’re not realizing that it takes almost two gallons of ethanol to equal the energy of one gallon of gasoline,” Haig said.

With prices fluctuating daily, there is no indication that prices will fall drastically anytime soon. But that won’t keep drivers like Lake from filling up.

“I guess we’ll buy it,” he said, “It’s a way of life.”