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Possible relief from gas prices |
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Thursday, 14 September 2006 |
by LAUREN LAWSON
News Reporter
 Bryan Tarnowski
Relief from high gas prices may be in sight.
CNN
Money and Oil Price Information Services analysts have issued reports
on the likely decrease in gas prices by the end of this year.
Chief oil analyst at the Oil Price Information Service, Tom Kloza,
predicts gas prices will be down between $2 and $2.50 by Thanksgiving.
This drop comes after gas prices peaked nationally at $3.036 per gallon Aug. 10.
Kloza said after Friday, gas prices would be a downhill game.
He said the decrease in prices has been due in large part to reduction in hurricane fears across the nation.
While many welcome the price drop, some are skeptical.
Mark Gilman, an analyst with The Benchmark Co., said the drop in gas prices to $2 by Thanksgiving is possible, but not likely.
Doctoral student and adjunct faculty member Caimen L. Ruff said the
decrease in gas prices, especially around Thanksgiving, would help
lower-income families.
Ruff said she definitely felt the effects of high gas prices during the past year.
Ruff sold her Ford truck and bought a smaller more economical car with
better gas mileage, but because of the three-month wait for the new
car, her family had no summer vacation.
Senior psychology major Katie L. Garrett said though she still travels
home, high gas prices have been a significant financial blow.
Garrett said many are seeing the gas prices as a direct correlation
with the war in Iraq, but she believes there are economic factors that
cause prices to increase and decrease cyclically.
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