Driving On Empty | Gas Prices Are Taking Their Toll

Fuel Prices in Fraser By: Reggie Paulk

With the average price of a gallon of regular gasoline surpassing $3.81 across the U.S., people are beginning to experience sticker shock at the gas pumps again.

Reminiscent of 2008, when average fuel prices in California hit an all-time high of $4.61 a gallon, the state is already seeing a $4.16 average at the pump--before the busy summer driving season is upon them.

With $60-$100 fill ups becoming the norm, drivers are pushing their fuel limits to the maximum:

"Nationally, AAA said the average had reached $3.815 a gallon, up from $3.739 a week earlier and $2.858 a year ago.

AAA is advising against the riding-on-empty strategy, which it said can wind up costing motorists a lot more money in the long run because of engine and mechanical problems that can arise when there is too little fuel in one's tank and when one runs completely out of gas.

"'E' for an empty gas Tank May Turn into a capital 'E' for Expensive repair," the AAA warned in a news release Friday.

Steve Mazor, manager of the auto club's Automotive Research Center, said "as painful as trips to the gas station may be getting, letting your car regularly run on an almost-empty tank can cause even more wallet damage with expensive repairs." He added that very low fuel could cause the electric fuel pump inside the tank to overheat. "The cost to replace this one component alone can be $500 or more in parts and labor."(LA Times Blog)

And who's to blame? Why, the very same institutions (Fed, J.P. Morgan, Goldman Sachs, Wells Fargo, Citi Bank, Bank of America) that caused the housing crisis, the financial crisis and the soon-to-be energy and food crisis. Prices will come down--but no one will be able to afford them because cash will be scarce.