Gas Prices Drop

Despite the price of crude oil rising in the last two weeks, gas prices have fallen to an average of $3.29 a gallon. This is an 18 cent drop within the past six weeks. According to Trilby Lundberg, publisher of the Lundberg Survey, the rise in crude oil prices was not able to transfer over to, and reflect a rise in gas prices because our demand for gas in the US "continues to shrink due to hard economic conditions." As technology expands to more cost-efficient methods of transportation, such as more fuel-efficient vehicles, and as governments focus more of their attention on plans and regulations aimed at increasing public transportation, our demand for gas will continue to decline, and thus so will gas prices in the long run. Instead of allowing the oil companies to dictate our transportation costs, which also indirectly affect our use of vehicles, if we try to come up with more innovative ways to travel, we will be able to more effectively impact the prices of gasoline. This article reminded me of the topic in class regarding the reduction in transportation costs and the role this played in the numbers and the type of people who immigrated to the US.