Gas prices drop slowly -, Albany News, Weather, Sports

Gas prices drop slowly

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Some motorists around Albany are noticing gas prices falling and that's leaving drivers like Emanuel King elated.

"Well the way gas is looking now, it's been the best thing in a long time. I really appreciate it and I hope it continues to fall," said King.

But for some drivers like Charlene McClure, gas prices aren't falling fast enough.

"We were in Anderson, South Carolina and it was down 15 to 20 cents less than it was here two weeks ago. So yes we are excited about that, but we didn't understand why our area couldn't come down that far," said McClure.

So why is the price of crude oil the lowest it's been since February, but gas prices are slowly dropping? Economics professor Aaron Johnson says other aspects play a role in gas prices.

"Well the thing is there are other factors when it comes to the price of gasoline. You have refineries that have to refine the crude oil, there's transporting the gas to gas stations and also you got to look at demand," said Johnson.

Johnson says as long as the demand for gas keeps falling, so will the prices.

"If you look at the numbers on demand, gasoline consumption has gone down. There's some speculation involved, but we expect for demand to continue to go down," said Johnson.

All of this is great news for drivers like King.

"Me and my family love to vacation and as long as gas continues to fall we won't mind hitting the road," said King.

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