BALTIMORE (WJZ) — Prices at the pump continue to reach new records nationally and locally – nearing about $5 a gallon.
“I drive station to station looking for the lowest price,” said driver Caroline Helfman.READ MORE: Maryland Weather: Storms Possible
“It’s just ridiculous,” said driver Patrice Williams.
With the summer travel season here, drivers are paying record high prices to fuel up.
“I just filled up with half a tank and it’s $37,” Helfman said.
Across the country – gas prices continue to soar expected to hit 5 dollars a gallon on average by mid-June.
“I find myself staying home more if I don’t have to go out,” Williams said.
“There’s a lot of global supply and demand,” said JP Krahel, associate professor of accounting at Loyola University Maryland.READ MORE: Early Voting For Maryland Primary Begins
He says the summer travel season and the war in Ukraine are driving up the prices.
“All of the things that are increasing demand don’t show any signs of stopping,” Krahel said. “All the things that are reducing supply don’t show any signs of stopping.”
Right now the national average is $4.67. Here in Maryland, we’re looking at $4.60, that’s up from $4.26 just one month ago. Diesel sits at $5.89.
“It does put a dent in whatever our income is right now,” said driver Jim Fischer.
Fischer say the cost is cutting deep into his pocket.
“It’s not easy, I know it’s not, and a lot of people are financially hurting,” Fischer said.MORE NEWS: National Weather Service Confirms EF-1 Tornado Hit Bowie, Second Tornado In Anne Arundel County
Krahel says now might be a good time to consider getting an electric or hybrid vehicle. He says although right now gas cars are cheaper, charging your car overnight could save you more money in the long run.