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Gas prices still on the decline

Eb Areolla

Eb Areolla

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The United States gas prices are declining significantly depending on where you live. The average California gas price is $2.30 according to Gasbuddy.com. Some California citizens are paying less for gas than in July. gas pump

Where there are more oil refineries, the price of oil decreases, but where there are less oil refineries then the price of oil is higher than other states,according to the The New York Times.

The main reason why gas prices are low is due to fracking.  The U.S. is looking for ways to rely on their own supplies to make things cheaper for the country, according to an article written by Ecowatch.com.

People are happy about the decline but still apprehensive as to why gas is suddenly so low.  

“Having lower gas prices is a good thing,” said Danny Van Steyn, a 20-year-old history major. “I am spending $60 less every two months and not as concerned with my gas usage. However, it is probably a bad thing on a global issue.”   

Other countries such as Saudi, Nigeria and Algeria suffer from the United States not importing oil from them.  These countries make most of their money selling oil to the U.S., so when it isn’t being bought, they have less income and are forced to sell it to Asian countries for less, according to The New York Times.

Other countries aren’t the only ones negatively affected by lower oil prices.

“It affects two sides of the economy, and oil companies are one of those sides,” said Economics Professor Edwin Fagin. “Since they are losing profits people can start to be laid off.”

Some students noticed the decline in gas because of how inexpensive it is nowadays to fill up a full tank.

Kahlil Williams, 18-year-old business major said, it is much cheaper to fill up a gas tank. However the problems that may occur due to the decline of gas prices are concerning.

Gas prices have declined “25.3 cents since last month’s average of $2.002,”according to GasBuddy.com . Filling up a gas tank today won’t cost as much as last year’s prices but it will affect the countries the United States buys from in the long run.

“For consumers it’s fantastic,” Fagin said. “We can drive to the same amount of places for cheaper or we can travel more for the same cost we were spending before.”

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Gas prices still on the decline