CHARLOTTE, NC (WBTV) -- Experts say drivers could be paying more than $4 a gallon for regular gas before April this year.
"I'm already making decisions to change," said teacher Cedric Gerald in west Charlotte.
Gerald was pumping gas near the airport Tuesday. He's using a lower-grade gasoline to save money. When he finished, it still wasn't cheap.
"So that's a 60 dollar sale, mid grade. What about the person who can't afford it?" he said.
We are all feeling the affect of a global economy. Tom Crosby with Triple A of the Carolinas says there are several factors explaining why gas prices recently spiked.
"The settlement in Greece," said Crosby, talking about the deal to bailout Greece. "A strong Euro, means a weak dollar -- prices go up," he said.
He said refineries are also cutting back on production. Iran threatening to cut-off its oil supply to Europe has also impacted the market.
"Gas prices definitely affect the economy," said Crosby. Even with an improving jobs report and rally in the stock market, high prices can slow down the recovery.
He says most Americans spend about eight-percent of their income on fuel. Like a lot of people, Cedric Gerald hasn't seen a raise in several years.
It makes the current gas spike hit harder.
"I go to work and come home, that's it."
Copyright 2012 WBTV. All rights reserved.
