The retail of gasoline prices keep dropping across Texas as crude oil prices fall on world markets. This means great news for Texans. This means that people finally afford to put gas in their tanks. This article gets me excited because every day I drive from south Austin all the way to Round Rock by IKEA. I have been car pulling and trying not to drive as much on the weekends, just trying to safe as much money as I can. I tell everybody remember the days that we all used to pay like a $1.98 and when we used to fill up on $20 dollars of gas and that was great, instead of paying $60 dollars for a tank. For now I really hope that the gas prices keep on falling and falling so that we can one day reach that goal of filling up our gas tanks for $20 dollars once more! Then maybe once that keeps moving then people will start saving money and then maybe we can help our weak economy. Then finally I can afford to by some awesome groceries. The Link is http://www.kxan.com/global/story.asp?s=9157707
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This is what I have gathered from the news about the declining gas prices...
The reason gas prices are dropping is due in large part to the recession our country is experiencing. Because un-employment is on the rise, people may feel insecure with their jobs. When people feel insecure with their jobs, people are more likely to hang on to their money. During these uncertain times, people are less likely to spend money on the things they want and they are less likely to drive as much. Since people don't have the money to drive as much, the demand for oil goes down. Economically speaking, when the demand for a product goes down, the price of the product goes down as well. So if the global economy does get stronger, one can only expect to see the gas prices go up as people will have more money to drive and buy more stuff. As for saving money, according to the American Statesman, people are saving money at the same rate as they were during the Depression. For the most part, people don't save money anymore. People get credit. And easy credit is the primary cause of the mortgage crisis and recession we are in.
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