Gas prices continue to rise. What impact does this have on consumers?


ROANOKE, Va (WFXR) – Over the past week, gas in Roanoke has risen 3.5 cents per gallon. That’s according to gas-saving company GasBuddy.

David Bieri, an associate professor of urban affairs at Virginia Tech’s School of Public Policy, says the reason for rising gas prices is simple.

“Prices react. This means that the economy is reacting as it should. You see price signals always work, and so an economy, a market economy, has to have prices that send signals to people,” Bieri said.

However, what does this mean for people who use their cars every day, like ridesharing partners like Lyft?

Luckily for drivers and customers, Lyft has partnered with retail technology company, “GetUpSide”. Drivers can now take advantage of fuel promotions at 25,000 gas stations across the country.

Courtesy of Lyft

All they have to do is open the Lyft driver app, find a participating station, spend some gas, and then get cash back. A Lyft spokesperson says the partnership helps drivers save on gas because every dollar counts.

It also means that Lyft and its drivers don’t have to raise prices for customers. Bieri says if that changes as gas prices continue to rise, there are always other alternatives.

“You see, in some areas where there are affordable transportation alternatives in major urban areas like DC, people can do that. People can switch to another mode of transportation,” Bieri said.

He adds that switching to other modes of transport is more difficult for rural areas.

The last thing he wants to make sure all consumers know is that inflation has bigger impacts. Rising gas prices affect only a small part of our country. Although rental topics impact more people.


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