In a recent poll Americans say that Gasoline prices are hurting their budgets.

On an overall high price Oil Futures reached $120 and are expected to rise throughout the summer months. So what are oil futures? This is the price that speculators place on the future sale price of crude oil. The prices that are currently paid are based on previous future speculation meaning that today’s price of $120 a barrel will not effect the price of gas for months to come.

In a recent Congressional investigation Gasoline producers that purchase oil have said the cost they are showing at the pump is related to the demand and lack of resources to refine gasoline however the number of vehicles on American roads has stayed about the same over the last 5 years.

So have American’s increased their driving patterns 200% to reflect the increases in Gasoline Costs or is there another factor involved?

Reports say that consumers have reduced their driving to a point that retailers and restaurants are having a difficult time keeping customers. As people find it too costly to go out to dinner or make that extra trip to the store impulse purchases which make up 10 to 30% of some stores sales have forced companies like Home Depot to close 2 of its stores making it the first time in the history of the company that stores have ever closed.

Le Bec Fin one of Philadelphia’s and the Country’s only historic 5 star restaurants has had to make the decision to add lower cost meals including steaks to its menu. This also came at the cost of losing one of its stars. “It is important to serve your customer’s needs as economic conditions change. This decision was not an easy one to make but one we had to make.”

Large Chain Food Retailers like Starbucks have had to scale back their their expansion and make cuts in their menu choices.

All this has consumers wondering where this extra cost at the pump is coming from and who will lose while others profit.