$1 a gallon for gas? Blessing or bad thing? - WALB.com, Albany News, Weather, Sports

$1 a gallon for gas? Blessing or bad thing?

Posted: Updated:
  • More WALB News10 HeadlinesMore News HeadlinesMore>>

  • Phoebe foundation receives donation for medical student housing

    Phoebe foundation receives donation for medical student housing

    Thursday, July 31 2014 11:25 PM EDT2014-08-01 03:25:30 GMT
    Lauren Ray, Phoebe Foundation Executive DirectorLauren Ray, Phoebe Foundation Executive Director
    A generous donation will help build a $5 million medical student housing facility on Phoebe Putney Memorial Hospital's campus.The Richard King Mellon Foundation donated $1 million to the Phoebe Foundation for the proposed 25-unit gated community. More >>
    A generous donation will help build a $5 million medical student housing facility on Phoebe Putney Memorial Hospital's campus.The Richard King Mellon Foundation donated $1 million to the Phoebe Foundation for the proposed 25-unit gated community. More >>
  • Dougherty County School System has Open House

    Dougherty County School System has Open House

    Thursday, July 31 2014 11:19 PM EDT2014-08-01 03:19:35 GMT
    Valerie Williams, Radium Springs Middle School PrincipalValerie Williams, Radium Springs Middle School Principal
    Dougherty County parents and students got to meet old and new faces at their schools this evening.The school system held an open house at each school for families to meet the staff and learn what to expect for the upcoming school year.More >>
    Dougherty County parents and students got to meet old and new faces at their schools this evening.The school system held an open house at each school for families to meet the staff and learn what to expect for the upcoming school year.More >>
  • Law enforcement and first responders collaborate for "National Night Out"

    Law enforcement and first responders collaborate for "National Night Out"

    Thursday, July 31 2014 11:14 PM EDT2014-08-01 03:14:28 GMT
    Imaya FreeloveImaya Freelove
    First responders reached out to the community Thursday night to build better relationships and help kids get ready for school.For the first time, all the law enforcement and first responder agencies in Dougherty County worked together on a National Night Out event. More >>
    First responders reached out to the community Thursday night to build better relationships and help kids get ready for school.For the first time, all the law enforcement and first responder agencies in Dougherty County worked together on a National Night Out event. More >>

By Len Kiese - bio | email

December 8, 2008

ALBANY, GA (WALB) - How does gas for $1 a gallon sound to you? There's speculation that gas could plummet down to the $1 mark again but that drop wouldn't necessarily be a good thing.

Gas prices have been on the downward spiral recently. Prices are below the $1.60 mark at many Albany gas stations. Just 60-cents away from a price not seen since about 1999, people are beginning to think gas for $1 a gallon is feasible.

But that would mean oil prices would continue to hit all-time lows and jobs would continue to get slashed. In other words, if you saw such a dip at the pumps that could be a sign of a worsening economy and recession.

"The driver here is if you don't have a job or your income is being significantly cut, you don't care if gas is a dollar. You still have other bills you have to pay, food, entertainment and so forth," said Darton Economics Professor Aaron Johnson.

On Monday, oil prices settled at $43.71 a barrel. Last week they fell 25-percent. Right now national gas prices are the lowest they've been since March of 1999.

Feedback