By: Tristan Hill
FAYETTEVILLE, Ark. (UATV) — As the country continue to traverse the economic uncertainties of the COVID-19 pandemic, financial instability has been a struggle for many.
Coupling the pandemic with recent increases in gas prices places a burden on students at the University of Arkansas.
“As a student who works, having finances be that little bit more insecure makes a huge difference,” said Caleb Wilkie, a U of A Sophomore who also works in food service on campus for Chartwells.
For that reason, experts have discovered that some students are forced to make compromises.
“Another report is that students are skipping classes more often. At least short term, that’s a rational economic response,” said Dr. Gary Ferrier, U of A economics professor.
But students find themselves responding to the price increase in other ways as well.
“If you see a place with cheap gas relative to how it is around here, you almost can’t convince yourself not to stop,” Wilkie said.
In addition, it can add some extra stress when getting to and from class.
“It also exacerbates some of the traffic and parking issues that exist around the campus here. So if you get backed up in traffic or if you have to search for a parking spot for a long time, you know, things like that feel even worse than they normally do,” says Wilkie.
While politicians and pundits alike claim the price hike is a temporary response to COVID-19 safety measures being eased across the country, others aren’t so sure.
“Personally, I think it’s probably something that’s going to last longer,” Dr. Ferrier said.
While prices are on the rise, the average in Arkansas sits around 25 cents cheaper than the national average, which also continues to climb.