Gas Prices Not Affecting Car Sales
For the past 32 days, the price of gas has been on the rise and experts say we can expect to see it continue. Drivers in the Quad Cities are paying an average of 60 cents more for a gallon than they were just a month ago.
The majority of the cost per gallon of gas comes from the price of crude, which has jumped 10% in the last two months, according to the Energy Information Administration.
The national average up 13% to$3.73 a gallon but one local car dealership says the industry is remaining calm.
“We are not seeing any radical behavior around $3.50-3.55 a gallon and I don’t think we will,” Tony Gomez at Lujack’s says.
Gomez says the fluctuation of gas prices is no new rodeo for the car industry or the consumers but the strain on everyone’s wallets lately seems to pushing many towards fuel efficient cars.
“I would say that the market as a whole is certainly more fuel efficient that ever in the past.”
The rise in gas prices is never welcomed but this seems to be a bad time. Since the pay roll tax expired last month, the average worker is seeing $60 less per paycheck which is about the amount it cost to fill most gas tank.
Gomez also says that the rise in gas prices hasn’t slow downed the sale of trucks and S.U.V.’s though. He says the industry in this area is not negatively affected by the price in gas yet and he doesn’t think that it will be.