By TANNER MAWHIRTER
Tiger Media Network
Gas prices seem to never stop climbing, which can leave families, workers, and most importantly, young students on the fence on whether they should save their money or drive home for the weekend to visit friends and family. FHSU students have had mixed opinions on this matter.
Gas prices affect people traveling even short distances, for example, driving to class can impact a student’s ability to cover basic necessities.
“I would probably go home every other weekend if gas didn’t cost so much, but I have bills to pay, so I only go if it’s important enough,” Maycee Parr said. “The high gas prices make it difficult for me to visit home and to drive to school every day.”
If gas prices can impact someone who lives in Kansas, it definitely affects those who live in other states like Colorado, who already have to plan a trip to see their family.
Amman Adolf explains how this impacts his ability to visit his family back home.
“Since I live six hours away, I usually only travel home once a month, or maybe I skip a month,” he said. “Since I am from a small town, the gas prices are cheaper there, so I try to fill up on gas there instead of here in Kansas to try and save money to spend on college necessities.”
Sam Schreyer, a professor of economics at Fort Hays State, said gasoline prices are so high right now as a result of the US-Iran conflict
“As an economist, I hear the word ‘price’ and immediately think of supply and demand. In the case of gasoline, recent price dynamics are primarily driven by supply-side factors, particularly the US-Iran War,” he said. “It seems likely that prices will remain elevated for the duration of this year, if not longer.”
Schreyer said as of August 11, the U.S. Energy Information Administration forecast U.S. retail gasoline will average $3.78 in 2026 and $3.29 in 2027.”
He also stated that if the conflict were to end today, prices would take some time to return to normal.
“Even if oil begins to flow through the Strait of Hormuz, it will likely take some time for retail gasoline prices to decrease,” Schreyer said. “Gasoline prices tend to increase quickly when crude prices rise, but decrease slowly when crude prices fall. This asymmetry is termed the ‘rocket and feathers’ effect and occurs because of the time it takes for kinks to get worked out in the supply chain and for inventories to be refilled.”
Schreyer said high gas prices directly impact the consumer and their spending money month-to-month.
“The immediate effect of high gasoline prices is to reduce consumer disposable income. Many people are unable to reduce their gasoline consumption in the short term when gasoline prices increase; however, consumer behavior will eventually change if gasoline prices remain elevated for an extended period,” he said. “In the context of FHSU students, this could translate into lower student retention, fewer on-campus courses, and less campus engagement.”
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