Rising Concerns of Rising Prices

Details: Created on Friday, 01 April 2016 13:51; Written by Skyler Dixon

VERMONT- The recent rise in gas prices over the past two months may have you worried, but there’s no need to fear about prices reaching the same heights as five years ago. Petroleum analysts believe gas prices will be remaining around the same mark as today, at least for the foreseeable future.

Currently, gas prices in Vermont reach an average of just over two dollars per gallon. This comes after the past two months, which has seen an increase of 10 to 15 cents per gallon. Comparatively, back in 2011, gas prices reached a peak of 4 dollars per gallon. Forecasters, such as Joe Choquette of the Vermont Petroleum Association, say consumers are benefitting because of a lesser dependency on foreign oil.

"The United States has become a net exporter of fuel and so it’s been less dependent on foreign oil and foreign governments that would like to really hurt us, so that has been a good thing economically for consumers”, Choquette said.

The United States has recently increased the usage of hydraulic fracturing, known as fracking, giving easier access to oil and natural gas. Fracking is the process of drilling into the earth and injecting a pressurized liquid into the ground. The high-pressure mix of water, sand and various chemicals into the rock allow the natural gas inside the rock to release. The usage of fracking, Choquette says, is highly beneficial to the United State’s economy.

“We have been able to produce more of our own liquid petroleum fuels in the United States then we did before, so the United States has become a net exporter of fuel”, Choquette said.

According to the Census Bureau, the average American drives 250 miles to and from work every week. With gas prices as they currently are, this costs around 21 dollars. Comparatively, five years ago, the same distance would have cost 40 dollars. Due to this massive decline in prices, Americans save over 1000 a year on fueling their car. Mallory Duffy does plenty of driving in her daily life, and explains how it all adds up.

"I drive from Monroe to here everyday.Then every weekend Monroe to Littleton. And most of the time during the week I also drive to Littleton,” Duffy says, “It costs me about twenty six dollars on average”.

Still, even with gas prices as they are, some may look toward alternate ways of fueling. One such example is electronic cars, which are fueled by charging stations rather than fuel pumps. In Vermont, charging stations have begun to spread in popularity, which is important for those wanting to lessen their impact on the environment, like Armando D’Leon of Twin State Ford.

"Theres always going to be a demand for something like this, and as much as anybody can say it, we all have an impact and we all want to try and help with that impact on the earth”, D’Leon said.

Even with electronic cars on the rise, Choquette says, it’s far from being the popular choice for transportation.

”There are government programs at the state and national level that try to get people to take an interest in electric cars,” Choquette says, “So far it hasn’t been very effective. We think petroleum is going to be a dominant fuel for many years in the future.”

For now, though, forecasters say those worried that the price for transportation will rise once again can rest easy.