The real effects of inflation and the gas price increase

It is visible in today’s economy and society, the change in prices of goods like groceries and gas has taken a toll on most consumers.  

As a college student with an internship located in Murrells Inlet, S.C., I have definitely felt the effects of inflation in numerous ways. These increases have the ability to affect your everyday decisions, including whether or not you are willing to use precious gas in order to buy necessities.  

As a result, many business owners are forced to increase prices as their needs and demands increase along with it. Businesses that depend on regular customers and a regular income are now faced with issues like being able to pay their workers the amount they deserve and are promised. 

Another large issue with inflation are the effects it is having on businesses who reimburse their workers for gas. Although necessary, these businesses owners now have no choice but to increase the price of their goods as well as budget with how much money they are able to distribute by way of paychecks.  

In my opinion, it is clear the rise in gas prices is directly linked with a supply and demand crisis. According to President Joe Biden, the oil prices are starting to decrease, and with that, the price of gas will be decreasing as well. I also believe that everyone affected can agree the gas prices remaining this high would never be sustainable and would continue to do more harm than good. 

I am hopeful that sooner rather than later we will be on the other side of this, and can begin the process of repairing our economy. After dealing with inflation and normally low prices being on the rise, the idea of returning to normalcy in the near future is both exciting and encouraging.