CAPE CORAL, Fla. — Across the country, gas prices are soaring to the highest they’ve ever been, according to AAA. They say the national average reached $4.17 Tuesday.
Drivers in Southwest Florida scrambled to find better deals at the pump.
“I’ve never seen the gas prices this high in my life," said one driver.
Mike, who is originally from Chicago, told me the pinch at the pump has him rethinking his budget at home.
“I have my three piles [of money] one for gas, the one for food, and the other is for bills.”
Ron stopped to fill up and grab some lunch at the local food truck. Prices are so high he thought about only putting $10 into his Hyundai, but he stopped himself.
"Then I thought what if I need to drive someplace. What are the prices going to be next week or the week after that the way things are going?"
The future is something Kim from Pennsylvania is thinking about too. While filling up, she told me she’s on vacation here for the month but she’s worried about the drive back home.
"What if we are on our way home and they can’t get to the gas stations. I think we’re a little more worried about a shortage instead of the gas price.”
An economist at Florida Gulf Coast University said the market reacts to two things including new information and uncertainty which is what we saw after President Joe Biden addressed the country Tuesday.
Many drivers might start considering wholesale club memberships like Costco or Sam's in order to save a little on gas, but Dr. Victor Claar said that might save you some money but it could cost you more time.
“It really depends on what Southwest Floridians care about the most and what recourse they find the most valuable. They may be willing to pay higher prices to save time or they can go to Costco or Sam’s and wait in a really long line and save a little money that way," said Dr. Claar.
Dr. Claar also mentioned this is not a time to panic buy. He understands some people will want to stock up on gas, but it has a shelf life of three months, and using it could be dangerous or bad for your car.