RALEIGH, N.C. (WNCN) — A lot of people across the country are feeling the pain at the pumps as gas prices skyrocket. Specifically here across the triangle, a few people are already second guessing their summer plans.
“Prices overall are going up faster than wages. So actually people are getting poorer,” Michael Walden a local economist and professor at NC State said.
Prices at the pump continue to climb higher. The average cost for gas in North Carolina is $4.59, according to Gas Buddy.
And with summer here, a lot of families are canceling their plans.
“I planned on going different places but now I’m going to stay close by. Because it’s going to cost me an arm and leg to go anywhere,” William Reid said.
Atief Omar said he fills up his truck almost twice a week and simply can’t afford a family trip right now.
“At least two to three times a month we go to the Wilmington Beach and things like that. But this year I’m not going to be able to make it,“ Omar said.
Karen Leak said the prices are crazy.
“These gas prices are way too much. It’s too high, its ridiculous,” Leak told CBS17 in an interview.
Michael Walden, who is a professor and local economist at NC State University, said there are two ways to stop gas prices from increasing.
“If people begin to look at these prices and say ‘Hey we wanted a trip to the beach we just can’t do it.’ If that sentiment swept the nation then we could see a bind go down significantly,” Walden shared. “The second being world producers, particularly in the middle east, to dramatically increase their supply.”
Professor Walden said this was the first time families are able to enjoy their summer with no restrictions, but its going to cost them a steep price if they continue to plan.