Gas prices: Inland average hits $4.21
- February 27, 2012
- Kenneth Small, economics professor emeritus, is quoted in the Riverside Press-Enterprise February 24, 2012
From the Riverside Press-Enterprise:
Gasoline prices are marching into springtime at record highs, and some drivers are already bracing for cutbacks in their car use if prices stay this high for long. "If I could, I'd park my truck right now," said John Isner, 41, of Riverside.... Though analysts differ on whether gas prices will remain at record highs or soar back toward the record prices of 2008, when gas in the Inland area topped $4.60, drivers are already planning for cutbacks. Isner said pump prices well above $4 for the summer will mean he'll take far fewer trips to the High Desert and fishing along the Colorado River. In many cases, the perception of high gas prices is making a difference now, whether commuters can afford paying more at the pump or not. As costs have increased, especially since mid-February, drivers might have decided this is going to be a bad year for gas prices. "I think people are looking at the world factors at large and seeing that it doesn't seem likely the market is going to sustain decreases and keep them for a long period of time," said Kenneth Small, an economist at UC Irvine.
For the full story, please visit http://www.pe.com/local-news/transportation-headlines/20120224-gas-price....