Gas prices are rapidly approaching four dollars a gallon. The average price in Georgia right now is about 3.55 a gallon. That's up 3 cents in a week and 2 cents in a month.
Prices at the pump these days are 45 cents higher than a year ago. And with gas costing more, it is affecting more than just the miles you drive. A rise in gasoline prices is bad news for motorists.
"I think it is too high, taking a toll on people finances, as far as what they make a week and what they put in the gas tank," says Johnny Gardner, Motorist.
Gardner says prices are out of control, but knows that buying it is inevitable. "We need gas in order to keep moving, keep things going," says Gardner.
The increase in oil prices even affects flooring companies. "They keep getting higher and higher and it naturally costs us more," says Claus Vinent, Floor Mechanix President.
It's all about the production of nylon, which is the base fiber in approximately 75% of carpets made today. Nylon is made from petroleum, the same thing in gasoline.
The price of oil has climbed about 10% in a month, due to tensions with Iran, cold weather in Europe and increasing demands from developing nations.
"If petroleum keeps going up then the prices of the good are going to keep going up there is no doubt about that because it affects everything," says Vinent.
So when the cost of petroleum goes up, carpet soon follows suit. "Bout once a quarter you get 3 to 5% increase," says Vinent.
Those increases in carpet prices are passed along to the consumer. "We have even started adding like $20 to every job for fuel for our vehicles," says Vinent.
And business is suffering because of it. Vinent says 5 years ago, they had 5 times more business than they do now. "People don't have the money now like they used to, they let the carpet stay down several years more than they used to," says Vinent.
And Gardner agrees, saying he never thought gas would get this high. "Not being able to buy certain things because you have to spend it in gas," says Gardner.
And it seems he will continue cutting back in order to fill up his tank.
High oil and gas prices now set the stage for even sharper increases at the pump because gas typically rises in March and April.
The cheapest gas in Georgia is in Augusta area, at $3.51 a gallon. The most expensive is Savannah at $3.59.
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