NC gas prices climb and Durham drivers say they feel the pinch
DURHAM, N.C. (WTVD) -- The national average price for a gallon of gas has climbed to $4, and drivers in Durham say the higher costs are putting added strain on household budgets.
At a gas station in Durham, drivers were paying $3.89 per gallon, below the national average, but still enough to force many to rethink their spending habits.
"Everyone is struggling all around. It's astronomical, the gas prices," said Tonya Jackson, a Durham Public Schools teacher.
Jackson said she has been able to save some money this summer because she is not making her daily commute to work. Still, she is watching every dollar she spends at the pump.
"I tutor at our local library, so it's just a hop, skip and a jump," Jackson said. "I do that, and I cut back on my traveling."
Other drivers say the recent spike in prices is unlike anything they have seen in years.
"I've been in North Carolina pretty much all my life. Seeing these prices are ridiculous," said Tashan Walker. "I've seen it at $2, actually $1.95. Now it's going up between $3.50 and $4.50. It's just ridiculous."
For Uber driver Walker, higher gas prices have become another cost of doing business.
"Usually I can get around like a tank and a half, but now I have to fill up two or three times a week," Walker said.
According to AAA, North Carolina drivers are paying an average of $3.68 per gallon, below the national average but still higher than many motorists would like.
At least it's not California, where gas prices help drive up the national average. Right now, Californians are paying an average of $5.49 per gallon for regular gas.
Economists say global events are playing a major role in fuel prices. Concerns about conflict in the Middle East and potential disruptions to oil shipments through the Strait of Hormuz have created uncertainty in global energy markets.
"As hostilities have flared, it looks like the Strait of Hormuz could be closed, with less shipping going through," said Dr. Gerald Cohen, chief economist at UNC-Chapel Hill's Kenan Institute of Private Enterprise. "As a result, oil could be bottled up and not going into the global market."
Cohen said there is no clear timeline for when prices will fall, though consumer spending has remained surprisingly resilient despite the increase at the pump.
"We know households are spending more at the pump," Cohen said. "We know it impacts their psychology, and we see it in the data. But it's been surprising to me that spending has held up."
For many drivers, the higher fuel costs mean finding new ways to stretch their budgets.
"I've cut back on activities and adjusted my grocery bill," Jackson said. "I'm trying not to go to the store a lot and doing more bulk shopping at BJ's or Costco."
As gas prices remain elevated, Durham drivers say every trip and every dollar counts.
