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Economic Impact of High Gas Prices

Gas prices are up over 40 cents a gallon from this time last year (Stefanova). What impacts will that have on the overall economy? A recent USA Today poll showed that 55 percent of people who make under $20,000 a year consider gas hikes a "financial hardship." Only 30 percent of people who make $50,000 a year called the increases a hardship (Regan). If the recent gas price increases reflect the state of the economy in the late 1970's, with lines at the pump and inflation, do not worry too much. The United States is not as dependent on crude oil as it used to be in the 1970's (Regan). As a result, the United States will not face such



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, Associated Press, Kyoto Japan, Texarkana Ark, Al Gore, gas prices, percent people, late 1970's, crude oil,
Approximate Word count = 431
Approximate Pages = 2 (250 words per page double spaced)

  

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