Business & Tech
Rising Gas Prices Impact Local Wallets
As of March 3, the average price of regular unleaded gasoline in Massachusetts has risen to $3.41.
Few consumables impact our personal finances like oil.
The trickle-down effect that accompanies a rise in oil prices affects almost every aspect of our lives, from the price of a gallon of milk to the cost to heat our homes and the price tags on our designer jeans.
With oil reaching a three-year high, at $102 a barrel, due in part to the unrest in oil-producing countries such as Libya, local consumers are feeling the strain on budgets which have already been stretched to the limit.
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Much like local town and state governments, Wrentham residents have had to make some tough choices; cutting back on non-essential purchases in order to balance the books.
How the added financial burden has effected residents varies, although, as one would expect, the majority are in agreement on one thing: they’re not happy about it.
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At Wrentham outlets, shoppers Molly, Kelly and Maureen were asked for their input on the increase at the pumps.
“That’s weird,” Molly offered. “We were just talking about that!”
Kelly admitted to “thinking twice about buying things”, while Molly stated that the rising gas prices have forced her to “not drive as much.”
Maureen added a dire prediction: “I think they’re going to keep rising.”
Hardest hit, perhaps, are those whose jobs find them racking up the miles in performance of their duties. At the Mobil station, directly across from the Wrentham Outlets, one plumber glumly filled his tank.
“I use a lot of gas,” he noted, adding that he lives in faraway Quincy. When asked how he is coping with the added expense, he simply shrugged and offered: “I’ve got to go to work”.
Wrentham resident Elsa Ramon, stated that the higher fuel costs have impacted her in a personal way.
“I travel to Mexico every year, to see family,” she said. “Now it’s more difficult.”
Beyond the impact on travel plans, Ramon has felt the financial pinch at home, as well, “because I have to use my car for everything.”
Landscaper Shawn Stacey has had to absorb the increases in fuel costs in order to keep his clients happy.
“I’m compelled to pay it. I don’t want to chase away any customers,” he said.
Stacey, who operates Ace Landscaping, vows to “keep plugging away,” despite the increased cost of doing business.
At Wrentham’s Cataldo’s Hardware, owner Marilyn Cataldo feared that her suppliers would re-instate an energy surcharge on all deliveries.
“They did it before,” she recalled. “The distributors would add on for each delivery.”
Cataldo said that the surcharge ranged from a low of $3.00/per delivery on up to a $40.00 added charge. As an independent hardware store, Cataldo’s feels the crunch more than the larger chain stores.
“They have their own trucks,” she said.
Cataldo was asked how the store would deal with increases in delivery costs and after a moment of somber thought, replied that “we would absorb the prices.” Despite a shaky economy and rising costs, Cataldo’s Hardware maintains a large inventory of hardware supplies.
“(Senator) Scott Brown once commented that ’if it’s not here (at Cataldo’s) then you don’t need it’,” the store owner proudly relayed.
As of March 3, the average price for a gallon of regular unleaded gasoline, in Massachusetts, was $3.41.