Many people are finding more money left in their wallets lately as gas prices have dropped. AAA reports also suggest that prices will continue to drop in the summer of 2015 if there are no refinery issues and things stay stable in the Middle East.
The gas prices have been rising and dropping over the years. In January, prices dropped to the lowest they had been in six years, with the average price being $2.03 per gallon. Prices rose again and were up to an average of $2.43 per gallon in March, according to an April report by AAA.
“I would like to see gas prices continue to go down,” Biology teacher Mr. Jeremy Granger said.
“Prices on gas are too high.” Junior Natalie Couret said. “I would hope that they would stay at an exact amount that was cheap.”
When crude oil prices go up or down gas prices follow. With changes in the world supply and demand oil prices have been going down. The gas price has a lot to do with demand.
For example, during the summer a lot of people go on vacation/trips, with using more gas than a person usually would on a regular basis it causes the demand for gas to spike.
There are other small factors to changes in gas prices. With things as simple as competition between gas stations. Competition may not seem like a big deal. But it does happen between gas stations. According to an article from U.S. News and World report from 2011.
There could be two gas stations right across from each other and they’d both have different prices for the gas.
Competition is however not the only reason that these two gas stations have different prices. One gas station might lower the price in order to bring in more customers.
As always, the cheaper the gas the better for the wallet.