I was pleasantly surprised when I drove past the gas station this weekend to see that prices were, once again, below $3.00/gal. In fact, here in DeKalb, we are at $2.97/gal. and $2.99/gal., at all of our gas stations. Why the drop in gas prices?
The drop in gas prices can be directly contributed to the new, or semi-new, competitor. That competitor is renewable energy and it looks like it will be around for the long haul. It seems that oil is still very much in demand which means we can expect to see prices rise again, in the near future, but I am definitely enjoying the lower prices while they last.
Of course, there are other reasons for the decline in prices, to include: a generational turn from owning cars and, with the boom of the Internet and social media, more people are starting to work from home, thus making a greater demand for renewable energies as opposed to consumable fuels.
With more energy efficient vehicles making their debut and tech-savvy companies looking for ways to continue to stay a “step above the rest”, it looks like we could see gas prices remain settled, at least for a short period of time.
There is indeed some good coming from all of this. The number one benefit would have to be, hands down, the savings. It may not be much but I remember spending $60 every time I filled up my vehicle. With the lower prices, I am saving about $15 each time I fill up. I don’t know about you but, in my book, every little bit counts.
Have you noticed a decline in the gas prices in your town? Did it come as a shock? What are your thoughts on the lower prices?