Lighter gas prices makes for heavier wallets - KAIT Jonesboro, AR - Region 8 News, weather, sports

Lighter gas prices makes for heavier wallets

JONESBORO, AR (KAIT) - Most have noticed a little easier to look at price on the gas billboards the past several weeks.

According to AAA Fuel Gauge Report, the price per barrel for Crude Oil fell below $80 before the stock market closed on Friday. The lowering of Crude Oil costs has tended to coincide with the lowering of gas prices since the $4.00 scare in May.

It was in May that experts thought gas would surge well over $4.00, but a weakening economy lowered Crude Oil prices and the price of a gallon topped out in Arkansas at $3.81 according to the graph on arkansasgasprices.com.

The lowering in gas prices had spirits up at the gas pump on Sunday, "It's a god-send," said Alice Hedger, who was filling up her car, "I just spent $200 at the grocery store!"

But despite lower prices, there are still plenty of opinions of why gas fluctuates from month to month, "I think it has a lot to do with complaining in Washington," said Donald Jeffery, who was topping off his fuel in his truck,"I think officials are finally starting to see what's going on."

Jeffery wasn't the only one with an opinion, "I think a lot of it has to do with the price of oil," said Ray Osment, who was at the gas pump Sunday and is also a former gas station owner. He said from his experience he knows one thing, it's not the gas station's fault the prices are high, "It's not their fault, I know we sold gas and didn't make any money off of gas," said Osment. "Many people blame the stations because they sell it, but they have no real control over it."

Copyright 2011 KAIT. All rights reserved.

 

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