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Jun 1, 2008 9:50 pm US/Central
Gas Prices Changing Consumer Behavior
FORT WORTH (CBS 11 / TXA 21) ―
Some analysts say retail gas prices are on a course to hit $4 a gallon by the end of the week. The highest gas prices can be found near DFW International Airport at $3.99.
CBS 11 News spoke with drivers on Sunday who said the high gas prices are changing their behaviors. Some say they tend not to fill up their tanks. Instead, they're just putting in half a tank or skipping on bills to put enough gas in the car to get to work.
"I'm going to limit myself," said motorist Ruby Kinmon. "I'm going to work and going to church and then staying at home."
"I sometimes cut back on certain stuff like paying my cell phone bill and stuff. I just got that back on last week," said driver Bryant Hands.
With the start of hurricane season, many wonder how high gas prices will go before leveling out. Hurricane season can knock down oil production in the gulf, pushing prices even higher.
"If we have a bad hurricane season then prices could go up another 30 40 cents instantly," said financial expert Jim Lacamp. "There's no slack in the system. No room for error. Any time there's a hiccup in the supply chain anywhere, prices go up."
Lacamp said the issue has become global. Hundreds of thousands of people around the world are buying cars for the first time, which is raising the demand for gas.
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