High Gas Prices: How Close Are You To The Breaking Point?
Although the Persian Gulf and the Straight of Hormuz are thousands of miles away from Idaho, what happens there impacts life in the Gem State. If you’re an American of a certain age, you’ve been here before, with high gas prices and lots of anxiety involving fuel costs.
The country has faced gas shortages before, as gas was rationed by days of the week during the Arab Oil Embargo. If you weren’t around for that one, ask your parents or grandparents, as it was painful.
At the Gas Station
Today, gas prices are up, but thankfully not as high as the failed Joe Biden Administration.
Will High Fuel Costs Change Idaho Lifestyles?
Remember COVID? The pandemic brought us Zoom and remote working. Some countries have adopted a four-day workweek due to the fuel crisis. We could see all of these return if the war isn’t settled yet. Gas prices impact everything from fertilizer to transportation.
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The End Of Idaho Summer Vacations?
Although canceling the beloved Summer vacation may appear to be rash, let’s not overlook what is going on in the airline industry. Airlines are canceling available flights at a rapid pace, and some companies are already lobbying the American Government to bail them out again due to rising fuel prices.
Some folks won’t be able to afford getting away, whether it’s on a plane or on the road.
Photo by Ben Sklar/Getty Images
What is Idaho's Breaking Point?
According to Advance America, the Gem State's breaking point for gas prices is $5.05 per gallon. Our current gas prices are at around $4.33. In other words, we’re not that far away from folks deciding it’s better to stay home than go out, whether it’s a vacation or out to dinner.
- 49% of Americans say they feel extremely or very stressed about fuel costs
- Another 33% feel somewhat stressed.
More than 80% of people feel at least some financial anxiety about gas prices.
And the ripple effects extend into daily life:
- 37% say rising gas prices have forced them to rely on credit or borrowing
- 43% have canceled plans with friends or family due to fuel costs
Are you stressed out about the cost of gas or are you with the president? We'll continue to update you on this story as it develops.
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