While gas prices under $2 per gallon are good for your wallet, they're hurting the economy.
The stock market has had one of its worst starts ever, partially because of the cost of crude oil. But Thursday, energy companies led an afternoon rally, climbing along with the price of crude oil.
According to AAA, the average national price for gas is below $2 per gallon for the first time in seven years.
"(The) price for a gallon of milk right now is higher than gallon of gas, so I appreciate the low cost on the gas and being able to offset the cost with my food budget. I've got some big kids that love to eat," Devon Hammond said.
"We travel a little bit more, do weekend trips where we weren't doing it before, so it does make a difference and helps the family budget," Rita Alexander said.
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16 comments:
I couldn't. Care less these oil eastwards have been ripping us off for year's screw them.
When will the cost of goods and services reflect the new gas prices? Wasn't the whole premise of rising costs was because transportation went up with the crude prices?
Waiting..........
yes and if people are spending money on other things how is this hurting the economy. such bs
The congressional crooks in control are whats destroying the economy and the USA.....NOTHING MORE!!!!
My Wife just returned from North Carolina. Gas prices there are $1.64 a gallon.
The economy and the stock market are two completely different things. The economy is being helped by this, and will more when fuel surcharges go down or away.
The flakes on Wall Street playing with their fake electronic money are the only ones in a fluster here.
Just wait, as we see some middle class relief, on something most everyone uses, they will raise the tax on it. (Fuel = fuel tax)
5:22 I agree the ones being hurt the most are fat cats on wall street. I do feel sorry for the oil field workers who are being laid off.
Hopefully Hogan won't follow otaxi,otherwise that's exactly what MD will do!
It's a little relief for those of us who have to buy gas to go to work for a living.
I don't those guys where making over $100,000 a year so I hope they saved for the last 30 yrs.
7:27 Oil field workers make good money but they work very hard for it. Very few last 30 years in the fields.
Cheap oil is not the problem, how about 19 trillion dollars in debt, years of zero interest rates propping up the Titanic. Not defending our borders against invaders,fighting in foreign lands killing and maiming our young men then electing a president who makes all those lives mean nothing. I could go on , but the point is cheap oil is not the problem.
As much as the gas prices have come down, I still have not seen any decrease in prices in the stores. They sure raised those prices quick when gas went up and blamed the prices increase on the price of gas. A lot of products reduced the size or amount you get in a package but the price stayed the same.
Give me a break...my economy has improved with every DECREASE. Report showed 3 states that have been effected adversely, Texas, North Dakota and Wyoming...so what do the rest of the States do, stop and worry about them???? NOT
u'd do anything to get us back to 3.50 a gallon, wouldn't you?
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