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Why Gas Prices Feel Bigger Than Their Budget Share
- Gas takes only about 3% of household spending, but people fixate on it because they see pump prices constantly and often cannot avoid buying it.
- Neil Mahoney says families can swap to cheaper groceries or skip vacations, but commuting and school pickups still require fuel.
Drivers Cut Back Elsewhere When Gas Jumps
- Drivers said higher gas prices force tradeoffs even when they cannot stop driving.
- Carter Victorio walks to work but hates putting in $30 without reaching a quarter tank, while Candace Lawton cuts trips and eats out less.
Gas Prices Can Trigger A Wider Inflation Cycle
- High gas prices can spread inflation beyond fuel by changing how consumers and businesses think and act.
- Neil Mahoney links pump prices to wage demands and Fed rate decisions, while Christian Hernandez says rising costs push him to raise phone repair prices.