Rising gas prices exceeding $4.50 a gallon are disproportionately impacting lower-income households in America, leading them to drive less and allocate more of their budgets to transportation, while higher-income individuals are less affected by the price increase. #GasPrices #EconomicInequality #TransportationFinance #US #IR
www.nytimes.com
Higher Gas Prices Are Hitting Lower-Income Americans the Hardest
People with lower incomes are driving less and devoting more of their budgets to transport as gas prices soar.
Surging gas prices are inflaming a longstanding economic divide in America, as households with lower incomes struggle to pay more at the pump at a moment when prices are already elevated.