Views on commodities and energy
Americans lament higher gasoline prices
With the summer driving season, under way, American drivers are once again feeling the impact of higher gasoline prices on their wallets. Read the full story here. Martin Hogarty, a chauffeur from the Bronx, interviewed near a gasoline station on 46th St. and 10th Avenue near Times Square in Manhattan this week, said he’s paying double what he used to pay for gasoline to fill up the car he uses for his chauffeuring business, a GMC Yukon sports utility vehicle. Gasoline prices at the station stood at $2.77 a gallon.
For those who’ve decided to invest in more fuel efficient cars, however, the choice is now paying off. Jose Ferro, a cab driver who was also filling up at the 46th St. station began leasing a hybrid taxi about eight weeks ago said the higher leasing fee is already paying off as gasoline prices climb higher.
Ferro, 72, a retired television commercial producer, who has been driving a cab for about three years said he used to fork out $38-$45 to fill up the Ford he used to lease, compared with about $10 to fill up the hybrid, which means a little bit extra take-home pay.
Despite Americans’ complaints about the rising cost of gasoline, Reuters data shows that the price Americans are paying for gasoline is well below prices drivers in many other developing countries pay.