Starting off 2015, we recognize the immediate drop in price of gasoline compared to 2014. Our national average is expected to drop by 23 percent in 2015. Being beneficial to students and our nation’s citizens, with prices being so low, we are less concerned about lacking gas in our vehicles. Why are gas prices so low exactly?
Since 2008, the production of oil has substantially increased, which allows our world supply to be constantly rising, and present us with these low gas prices. New York is still ranked the fourth highest state for gas prices.
During the cold weather, gas tanks should always contain a surplus of gas to ensure that it doesn’t freeze. This allows people during the winter to maintain their gas tanks to a full level. Gas in the winter has proven to be far cheaper than in other seasons.
The drop of gas prices actually helps our nation’s economy in a big way. It benefits businesses by reducing the shipping and production costs because of how cheap gas currently is. Falling gas prices have been recorded to increase consumer spending because more people are willing to drive longer distances to shop because they have more gas in their tanks. Also, with lower gas prices, consumers have more cash to spend.
Lower gas prices result in more use of gas and a higher demand. This causes a problem with our environment because of the carbon dioxide gasoline gives off. With increased carbon dioxide in our air, pollution becomes an increased threat. Environmentalists are concerned with these issues that gas now presents and are trying to come up with a quick solution.
For myself, with gas being so cheap, I recognize how much it affects how far and how much I choose to drive. Being a college student, money is always tight, so I try not to use a lot of gas by going places I don’t need. At the same time, with gas prices being so low, it seems as though I am more comfortable driving more places because I know I can afford to get gas and I will be getting much more per the gallon than usual.
When friends are in need of a ride to Wal-Mart or into town, I feel more flexible with where I choose to go because gas more obtainable, even with less money available. Collecting a few dollars for gas money actually makes a difference because I’m getting more bang for my buck.