Speculation has it that nationwide prices will jump to around $4.25 a gallon by the end of April and closer to $5 by June. While we here in Missouri enjoy prices slightly lower than the national average, it's not much consolation.
What does this mean, specifically, to those of us in Bates County? If you're a commuter, a lot. There is a fair number who travel towards the Kansas City area each morning and there will need to be some changes in your budget to compensate- let's break down some numbers:
According to RITA, a web site run by the Bureau of Transportation Statistics, the average economy of passenger vehicles on the road is about 25 mpg. You might beg to differ if you drive a 1 ton V10 Dodge dually four wheel drive.
Using the 25 mpg number, lets say you travel 100 miles round trip per day (feel free to plug in your own numbers). At $3.25/gal this puts you around a total cost in gas per day at $13. At $4.25/gal it's $17. Come June, it could be as much as $20. For the Summer it could cost you an additional $140 a month just to do what you are doing today.
And speculation (whoever that is) says that diesel will go up and probably hang close to the price of gasoline as well. Expect all retail prices to go up to offset costs, too since most deliveries are possible thanks to gas and diesel.
If you're like most, and being optimistic, you say you can probably deal with the extra cost at the pump, but that's not all of it. Factor in your additional $140 a month just to get to work plus additional costs of going anywhere else, plus increased cost to buy things you need and it will add up to substantially more than you might realize. Your employer will probably feel the pinch, too. So don't expect enough of a raise to make up the difference.
What to do? All the logical things- cut back here, check tire inflation there, maybe even trade in that guzzler...
Hopefully prices will indeed come back down after Summer. Keep your fingers crossed.
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