Are Lower Gas Prices a Good Thing?
After what seems like an endless period of record-high gasoline prices, gas station signs are changing almost constantly as the cost for a gallon of gas tumbles. Although the numbers vary depending on where you are, the trend is the same: prices have hit the bottom of the (oil) barrel.
As I write, the lowest average price in America for a gallon of regular unleaded is $1.683 in Oklahoma, while the highest is $2.866 in Alaska.1 Whatever the exact figures, they are far more than half of what they were when prices were at their highest.
As I have watched prices plummet, I have felt my joy and relief rising in an inversely proportional ratio. I also know how many others feel the same, given the fact that commuting is a necessity for many folks…and that many folks drive a lot farther than I do and do not have a hybrid to help reduce consumption.
High gas prices have had serious effects on people’s lifestyles across the world, not to mention other things such as cost of food and other goods. People have been driving less and still paying more for just about everything, causing serious problems for people on fixed incomes or with large families, for instance. We have also witnessed the virtual death of the SUV…though you can still find a Hummer barreling down the highway now and again, gas prices be damned.
Ironically, Americans are lucky when it comes to gas prices. Consumers in many other countries pay a great deal more for their fuel, due to lack of subsidies, higher taxes, or other factors. According to NationMaster.com, the top five for gas prices are Uruguay, United Kingdom, Israel, Argentina, and Japan. America comes in at #102, fairly low on the list of 141 countries; the lucky last is Turkmenistan, of all places!2
Still, gas prices are dropping worldwide, whatever that means country by country and state by state. But with all the joy I am feeling, and just about every other human being is feeling, I also wonder if cheaper gas is not really a good thing.
