Get out your cash and be ready to feel the pinch in your wallets this summer, because gas prices are going up. This summer’s will be the third highest in United States’ history. According to CNN.com, drivers will pay approximately $1.46 for a gallon of regular unleaded gasoline.

Although this is eight cents lower than last summer, total fuel bills could top those from 2001.

Demand for gasoline this summer is projected at around 8.8 million barrels each day, which is approximately 1.6 percent higher than last summer.

In addition, since Iraq recently announced that it would temporarily halt oil exports, and due to the labor difficulties Venezuela, another oil producing nation, is experiencing, oil prices in the London and U.S. trading markets have increased.

Guilford students feel that these increased prices won’t have a large effect on their summer plans. “This won’t be too much of a problem for me because I’m not really going to be using my car too much,” said first-year Forest Raven. Raven, who lives in New Mexico, was planning on bringing her car back this summer. However, those plans have changed. “It’s just too expensive,” she said.

There are also some students who are lucky enough to get parental assistance. “My parents help me out, so that really makes life easier” said junior Fernando Pardo.