Getting around Sin City is getting pricier.
The price of gas is one of those things that just seems to constantly fluctuate over time no matter what the state of the world is. But as of the last few years, those prices are hitting their peak – especially if you live in Las Vegas, Nevada. According to Gasbuddy.com, the average cost of gas there is $3.49/gallon.
A local news crew spoke with someone who actually moved from California to Las Vegas in part because of the high gas prices. “It seems like they followed us here in Las Vegas,” he laughed.
In May of 2016, the average price of gas was $2.44, but now in May of 2019, it’s nearly a dollar higher.
According to 13 Action News Financial Specialist Steven Budin, “The data show that gas prices really have to rise very quickly for there to be a direct business impact.”
But it seems that some people may nearly be at that point – or at least quickly approaching it. Some individuals are already feeling the effects of the high gas prices inside their wallets. Financial experts say they’ve noticed an upward trend regarding educated consumer decisions. People are now saving on simple things like running into the convenience store for a snack or drink while filling up.
Budin explains, “Driving to and from work, that’s mileage you have to put on regardless of what you’re doing leisurely. What that will force you to do is not spend money on other things.” Budin says other retail spending could be impacted by these higher gas prices.
This could also impact the price you pay for an Uber or Lyft, as drivers will inevitably have to pay more for gas to drive people around.